The composite leading indicators have significantly deteriorated in the major non-OECD member economies, with China, India and Russia now also facing strong slowdowns, the Organization for Economic Co-operation and Development said Friday.

The CLI also continue to point to a weakening outlook for all the major seven economies. For the OECD area, the CLI decreased by 1.0 point in October and was 5.9 points lower than in October 2007.

For the US, it fell by 1.2 point in October and was 6.6 points lower than a year ago. The Euro area’s CLI decreased by 0.9 point in October and stood 6.3 points lower than a year ago. In October, the CLI for Japan decreased by 0.9 point, and was 3.3 points lower than a year ago.

Canada doesn’t fare much better. The CLI for Canada decreased by 1.0 point in October and was 4.9 points lower than a year ago.

However, the big drops were in emerging markets that aren’t part of the OECD. The CLI for China decreased 1.7 point in October and was 7.0 points lower than a year ago. For India, it fell by 1.1 point in the month, and was 6.6 points lower than in October 2007. The CLI for Russia decreased by 4.0 points in October and was 10.5 points lower than a year ago.