The composite leading indicators (CLIs) of the Organization for Economic Cooperation and Development (OECD) showed economic stabilization in near term. 'OECD composite leading indicators, designed to anticipate turning points in economic activity, suggested a stabilization in the pace of expansion across the OECD,' the Paris-based organization said in a report on Monday. 'Similar to last month's assessment, growth prospects vary across major economies. But tentative signs of convergence in economic cycles are appearing in many countries,' it added. CLI for all OECD economies inched up by 0.1 points to 102.6 points in October on a monthly basis, increasing 3.3 points during the last three months compared to the same period a year earlier. CLI in the euro zone remained unchanged at 103.4 points. France, the second largest European economy, witnessed a slight rise in its indicators which gained 0.1 points to 102.2 points, according to the report. However, Germany, Italy and Britain, the main locomotives of European economic growth, reported a CLI decrease of around 0.1 points, indicating a sustainable growth trend except Italy, which could face a downturn. The OECD noted an eventual improvement of U.S. economy while predicting an expansion in Russia. Growth outlook in Brazil and India would be clouded by a slowing pace and downturn signs, according to the report. The OECD CLI index is aimed at providing early signals of turning points, such as peaks and troughs, between expansion and slowdown of economy approximately six months in advance. 