AS per the latest report, the GDP in the OECD area rose by
0.6% in Q3, against 0.3% in Q2. The key reason for the
increase is the strong growth in Japan (1.5%) in the third quarter, partly
due to a technical rebound after the earthquake disaster. This strong growth
in Japan followed three consecutive quarters of contraction.
Growth in the Euro area and the European Union remained at 0.2%, despite
the higher growth in Germany (0.5%), the United Kingdom (0.5%) and France (0.4%).
GDP growth in the United States also picked up slightly at 0.6%.
Relative to a year earlier, GDP increased
by 1.8% in the third quarter of 2011 in the OECD area, the same as in the previous
quarter. Among the Major Seven economies, Germany recorded the highest year-on-year
growth rate (2.6%) and Japan the lowest (minus 0.2%).
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