CLIs signal deep slowdown in OECD area and major non-OECD member economiesn OECD Composite Leading Indicators (CLIs) for November 2008 point to deep slowdowns in the major seven economies and in major non-OECD member economies, particularly China, India and Russia. The following outlines the extent of these slowdowns: The CLI for the OECD area decreased 1.3 points in November 2008 and was 7.3 points lower than in November 2007.The CLI for the United States fell 1.7 point in November, 8.7 points lower than a year ago.The Euro area’s CLI dropped 1.1 points in November, and was 7.6 points lower than a year ago.In November, the CLI for Japan decreased 1.6 points, and was 5.5 points lower than a year ago.The CLI for the United Kingdom fell 0.6 points in November 2008 and was 6.7 points lower than a year ago.The CLI for Canada fell 1.2 points in November and was
