London, Oct 05: Economists monitoring the world economy's fragile health found new grounds for concern on Friday when the rich country club, the OECD, issued a warning on growth and Germany's largest bank spoke of a "mini-recession". Economists monitoring the world economy's fragile health found new grounds for concern on Friday when the rich country club, the OECD, issued a warning on growth and Germany's largest bank spoke of a "mini-recession".

A survey showing growth in the euro zone's vital services sector went into reverse last month added to worries that the global upturn seen earlier this year may prove to have been a weak, transient phenomenon.
There were few signs of brightness amid the gloom, and analysts were hoping, without much optimism, that the 1230 GMT publication of the U.S. Labor Department's monthly jobs report would add to them.

The Paris-based Organisation of Economic Cooperation and Development confirmed the turn for the worse in economic prospects with its August leading indicator which pointed to a loss of steam in the world's largest economies in late summer.
The indicator for the United States, the world's number one, slid for the second month in a row, by 0.5 points to 118.3. The indicator was not the only cause for pessimism about Germany, whose sluggish growth is holding back the whole of the euro zone and impeding the efforts of its traditional trading partners in eastern Europe to steam ahead.
The country's largest bank, Deutsche Bank, on Friday cut its forecast for German growth this year to just 0.1 per cent from 0.5 per cent previously. Bureau Report