PROVISIONAL estimates show that quarterly real gross domestic
product (GDP) in the OECD area increased by 0.5% in the third quarter of 2013,
the same rate as in the previous quarter.
In
the United Kingdom and the United States, GDP growth accelerated to 0.8% and
0.7% respectively, compared with 0.7% and 0.6% in the second quarter. In Japan,
GDP increased by 0.5%, down from 0.9% registered in the previous quarter. In
Germany, GDP growth slowed to 0.3%, compared with 0.7% in the second quarter. In
France, GDP decreased by 0.1%, after the rebound of 0.5% in the previous
quarter. In Italy, GDP declined for the ninth consecutive quarter, but with the
pace of contraction slowing to 0.1%, compared with 0.3% in the previous
quarter.
GDP
rose in the European Union and in the Euro area by 0.2% and 0.1% respectively, a
slower pace than in the second quarter (0.3%).
Compared with the third quarter of 2012, GDP growth for the OECD area
accelerated to 1.4%, compared with 1.0% in the second quarter. Among the Major
Seven economies, Japan recorded the highest growth rate (2.6%) and Italy the
largest contraction (minus 1.9%).
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