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OECD leading indicators suggest global growth set to slow

The OECD's leading economic indicator fell to 109.6 in August from 109.7 the previous month, the weakest since March, the agency said in a statement released in Paris on Friday. The gauges for the US and dozen-nation euro area were unchanged, while Japan's fell 0.5 points. A separate measure for China, which is not an OECD member, also indicated growth will fade there. The data „suggest that slowing economic expansion lies ahead in the OECD area,” the organization said. The leading indicator survey is aimed at providing early signs of when economies begin to improve or deteriorate, according to the Web site of the 30-nation OECD. The OECD area's unemployment rate held at 6.1% in August, the organization said. That's down from 6.6% last year. (Bloomberg)