THE news from
the OECD countries is not very good. As compared to previous quarter when real
GDP grew by 0.9%, it has declined to 0.6% in the current quarter.
Capital formation contributed 0.2 percentage point to
overall growth, down from the 0.5 percentage point recorded in the second
quarter. Private consumption was the main contributor, adding
0.4 percentage point to overall growth; while stockbuilding
contributed 0.3 percentage point. For the third consecutive quarter, net
exports dragged down GDP growth
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