GDP Growth - Third Quarter 2014
Quarterly real gross domestic product (GDP) of the OECD rose by 0.5% in the third quarter of 2014, up from 0.4% and 0.3%, respectively, in the second and first quarters of 2014.
The United States and the United Kingdom, had the highest GDP growth amongst the major economies, despite slowing in both countries, to 0.9% and 0.7% respectively (compared with 1.1% and 0.9% in the previous quarter).
Real GDP increased in France by 0.3% and in Germany by 0.1% but contracted for the second consecutive quarter by minus 0.1% and minus 0.4% in Italy and Japan, respectively.
GDP growth picked up marginally to 0.3%in the European Union.
Year-on-year GDP for the OECD area was at 1.7% in the third quarter of 2014 which was lower than in the previous quarter for the third consecutive quarter.
Out of the major economies, the United Kingdome recorded the highest annual growth rate (3.0%), followed by the United States (2.3%).