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At the same time, much of the Asia-Pacific region continues to stand out with buoyant, although moderating growth.
Among the major emerging economies tracked by the organization, the reading for China pointed to "moderating growth" at 99.0 after 99.1 in December.
India faces "an unpleasant trinity of moderating growth, high inflation and monetary tightening," said Rajeev Malik, senior economist for the investment bank CLSA in Singapore.
Signs of moderating growth "are still tentative and preliminary, and the utilization of the pool of available workers remains at an unusually high level," the committee said in a statement released at the conclusion of a two-day meeting.
The uncertain global outlook — lackluster growth in the United States, the debt troubles of the euro zone and moderating growth in China — has prompted policy makers around the globe to step up their efforts to bolster growth in recent months.
Despite the stream of fourth-quarter profit warnings, the latest estimates suggest moderating growth in 2001, not an outright decline.
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To prevent overheating, Beijing is trying to moderate growth and rein in inflation.
He continued: "The best that we can hope for is moderating the growth in taxes.
Moderate growth continued in the Philadelphia region.
"We'll see low inflation and moderate growth indefinitely".
Service businesses reported a moderate growth in sales.
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