Advanced economies are slowing down, and China is slowing even faster, the OECD warned on Monday on the basis of leading indicators.
The eurozone is again sending signals of below-trend growth, as are Germany and France, Britain which is not in the eurozone, and Canada.
"In Italy, the composite leading indicators point more strongly to a slowdown," the OECD said.
The indicators for the United States, Japan and Russia are above the long-term trend but again point to slowdown, notably in Russia, the Organisation for Economic Cooperation and Development said.
The indicators are regarded as a reliable guide to turning points in economic activity, and the OECD said that for China and India, they pointed "strongly to a slowdown with economic activity falling below long-term trend."