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Economy Slowing Down

Russia looks headed towards an economic slowdown, joining fellow emerging market powerhouses India and China, whose economies are also showing signs of faltering, the latest report from the Organization for Economic Cooperation and Development showed Thursday.

The Paris-based economic think tank said its June composite leading indicator, which provides a measure of future economic activity and is based on a long-term average reading of 100, slipped to 99.5 for Russia from 100.3 in May.

CLIs for China and India continued to point to a slowdown, while Brazil looked set for a more moderate pick-up in economic activity than in last month's assessment, the OECD said.

(Reuters)

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