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Recovery hopes dive

ALL the world's major economies now face a significant slowdown, with the momentum for recovery falling back, the Organisation for Economic Co-operation and Development (OECD) has reported.

It said that there are clear signs that there has been a halt to recovery.

The Paris-based organisation's composite leading indicator (CLI) for its members fell for the seventh straight month to 100.4 in September, down from 100.9 in August and hitting the lowest reading since December 2009.

The OECD CLIs are designed to anticipate turning points in economic activity relative to a trend.