The world's largest economies are losing momentum and data points to a generalized slowdown, reveals the Organization for Economic Cooperation and Development (OECD) leading indicator released this Monday.

"The OECD's composite leading indicator (CLI), designed to anticipate turning points in economic activity over the next six to nine months, continues to signal a slowdown in most major economies and in the OECD area as a whole," the Paris-based organization reports.

In the set of the largest OECD economies, the indicator continues to anticipate a slowdown in the pace of growth in Canada, the United Kingdom and the United States. The same happens in the Euro Zone as a whole, including the big three - Germany, France and Italy.

The exception, for now, are the Japanese and Indian economies, which show steady growth in economic growth.

The OECD staff stress, however, for the caution to be taken when reading this indicator. "In view of persistent uncertainties related to the war in Ukraine, renewed threats from covid-19 and the impact of high inflation on real household income, the CLI components may be subject to larger than usual fluctuations," the organization said in the statement quoted by the newspaper de Negócios.

Therefore, it recommends that the indicators be interpreted with care and their magnitude should be considered as an indication of the strength of the signal and not as a measure of growth in economic activity," warns the OECD.