OECD: Major economies signal weaknesses

The Organisation of Economic Co-operation and Development's (OECD) monthly preliminary indices suggest the American, British and Chinese economies are signaling new weaknesses while the economic activity within the eurozone is recovering. OECD indices, which are generated for identifying the turning points of global economies, indicate bad news for the American, British, Chinese and Brazilian economies. While 100 points marks a long-term average on the index, the U.S.'s numbers regressed from April's 99.6 to 99.5 in May. The U.K.'s index fell to 99.8, below the eurozone average of 100.7. China dropped from 97.5 to 97.3 and Brazil dropped from 99.1 to 98.8. For particular countries in the eurozone, the index included values of 100.7 in France, 101 in Italy and 100 in Germany.