OECD indicator points to protracted global recession

The OECD Composite Leading Index (CLI), which covers 29 industrailised economies such as US, Japan, European nations, continued its downward trend for the 14th consecutive month in Jul 2008. Sharp contractions in US, Japan and Euroland. Among the non-OECD member countries, China’s CLI fell for the second consecutive month to 102.7pts in July (103.9pts in Jun). Meanwhile, India’s CLI declined by 1.5pts to 98.7pts in Jun (100.3pts in May), signaling the downturn is underway. OECD indicators include share price index, orders inflow, employment, housing permits issued, terms of trade, yield on 10-year treasury bonds, etc.

the figures have come down a little bit. Protracted global recession is the result? i can\'t find the full report on the web. does it say \'protracted global recession\'?

One of the most pernicious effects has been that capital-starved banks in North America and Europe have become risk-averse and are unwilling to lend even to sound business borrowers, said former US Treasury official, Charles Dallara. An extended slowdown can therefore be expected in the world\'s major economies for two to three years. And emerging market growth in Asia and elsewhere will inevitably slow as a result. So this is the best time to dig out companies with good business model without risk of being front-run.