The Italian economy is heading for a sharper slowdown than most other leading world economies, according to the Organisation for Economic Cooperation and Development.
A key OECD economic growth index released Friday showed that the prospect was for a general slowdown in the 30-nation bloc in coming months amid global uncertainty and fears of a recession in the United States.
The organisation's Composite Leading Indicator (CLI) for December, referring to all member countries, slipped 0.3% to 99.1 points, marking a 2.1% slide over the previous 12 months.
For Italy the monthly slide was more pronounced (1.2%) and the yearly one (3.4%) was also higher than the OECD average.
The OECD says its CLI indicator summarises data contained in several key short-term indicators and provides early signals of turning points in GDP or industrial production.
A rising CLI points to an economic expansion if the index is above 100 and a recovery if it is below 100. But a declining CLI points to an economic downturn if it is above 100 and a slowdown if it is below 100, the OECD said.
Italy's GDP growth in 2007 is expected to come out at around 1.7% while most analysts predict it will be under 1.5% this year.
