Leading indicators all point to a slowdown in the world's major developed economies, the

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OECD said today.

The composite index of leading indicators, designed to highlight turning points in performance, "point to a slowdown in economic activity in all major economies but with some variation" in individual countries, it said in a regular monthly report for December.

Indicators for the United States, China and Canada "continue pointing to slowdowns in economic activity around long term trends but with only marginal declines compared to last month," the Organisation for Economic Cooperation and Development said.

For Japan and Russia, indicators suggest activity above long-term trends but with signs now of slowing.

Indicators for the 17 nation eurozone as a whole, France, Germany, Italy, Britain, Indian and Brazil "continue pointing strongly to economic activity falling below long term trend," it added.