OECD GDP growth slows to 0.5% in third quarter of 2018
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20/11/2018 – Growth of real gross domestic product (GDP) in the OECD area slowed to 0.5% in the third quarter of 2018, compared with 0.7% in the previous quarter, according to provisional estimates.
Among the Major Seven economies, GDP contracted in Japan and Germany (by 0.3% and 0.2%, respectively, from 0.8% and 0.5% growth in the previous quarter).
GDP growth slowed marginally in the United States (to 0.9%, from 1.0%) and Italy (to 0.0%, from 0.2%) but accelerated slightly in the United Kingdom (to 0.6% from 0.4%) and France (to 0.4% from 0.2%).
However, GDP growth slowed in the European Union and the euro area (to 0.3% and 0.2%, respectively, compared with 0.5% and 0.4% in the second quarter).
Year-on-year GDP growth for the OECD area slowed for the fourth consecutive quarter (to 2.4%). Among the Major Seven economies, the United States recorded the highest annual growth (3.0%), while Japan recorded the lowest annual growth (0.4%)