OECD warns Britain is stuck in 'weak growth' cycle It said its latest composite leading indicators index, designed to spot shifts in economic cycles, "point to an easing of economic activity in most major OECD economies and a more marked slowdown in most major non-OECD economies." The recession is likely to have continued into the second quarter according to economists. The first estimate of gross domestic product between April and June will be published on July 25. "We believe it is more likely than not that the UK economy contracted modestly in the second quarter, thereby suffering a third successive decline," said Mr Archer. The OECD's China index slipped to 99.2 in May from 99.4 in April, reflecting a "slowdown" in the world's second largest economy. The US fared better according to the OECD, remaining above 100 at 100.9 on the index reflecting "moderating growth."