A barometer measuring the composite leading indicators (CLI) for the economies of OECD member countries showed a 1.1-point dip to just below 93 points in December, putting it 8.2 points below its level for the same period in 2007.
Canada's score fell the same 1.1 points, to 93.4, in December, down 7.2 points from a year earlier.
"The CLIs in most OECD countries have fallen to levels that were last seen during the oil shocks of the 1970s," stated the Paris-based agency.
"The outlook has significantly deteriorated in the major non-OECD member economies who are now also facing strong slowdowns."
The OECD is a think-tank funded by the governments of 30 European, North American and Asian democratic industrialized countries.
The CLI is intended to give early signals of the business cycle's turning points. An economic expansion would be indicated if the CLI was above 100 and increasing, while a downturn would be marked by the index decreasing but still above 100.
In economic parlance a CLI that's both falling and below 100 - the status for all countries cited in Friday's report - signifies an economic slowdown. A beacon for a recovery would be a CLI increasing but still below 100.
Every country but Brazil is considered to be in a "strong slowdown," according to the OECD. Brazil is simply listed as being in a "slowdown," as its score has dropped 1.8 points in December but a relatively modest 5.4 points from December of 2007.
The hardest-hit economies cited in Friday's report were non-OECD countries such as Russia, down 3.8 points in December and 17.7 for the year.
China was also one of the worst performers, down 2.4 points in December and 14 points over the 12-month period.
Among OECD members the U.S. was down 1.4 points in December and 9.5 for the year, while Germany - traditionally Europe's economic engine - fell 1.6 points and 11.8 points, respectively.
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