Q4 has brought bigger bad news for the OCED countries. As per
provisional data collected by the OECD, the quarterly GDP nosedived to 0.1% in
Q4 as compared to 0.6% in Q3. On the contrary the United States saw an
accelerated growth of 0.7% in the GDP in the fourth quarter of 2011 as compared
to the 0.5% growth registered in the third quarter. Japan witnessed a decline in
GDP by 0.6% following the strong technical rebound (1.7%) in the third quarter.
All
major economies in Europe, with the exception of France, saw a slump in GDP to
0.2% compared to 0.3% in the third quarter. In Germany and the United Kingdom
GDP contracted by 0.2%. In Italy GDP dropped by 0.7 %, the second consecutive
quarterly decline.Compared with the same quarter of 2010, GDP growth was lower,
at 1.3% in the fourth quarter of 2011 in the OECD area, against 1.7% i n the
previous quarter. Among the Major Seven economies, Germany recorded the highest
growth rate (2.0%) and Japan the lowest (minus 1.0%). On the whole ,the GDP in
the year 2011 ,in the OECD area grew by 1.8%, down from 3.1% in 2010.
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