OECD GDP turns positive in third quarter
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Third quarter GDP in the Organisation for Economic Development and Co-operation (OECD) area rose by 0.8%, up from 0% in the previous quarter, according to the OECD.
Meanwhile according to provisional estimates, seasonally adjusted GDP grew 0.7% in the major seven countries (America, Britain, Canada, France, Germany, Italy and Japan). This follows zero GDP growth in the second quarter of the year.
Within these major countries, GDP rates varied, from a 1.2% increase in Japan to a 0.4% contraction in Britain. This was the sixth consecutive quarter of contraction registered in Britain.
Following falls of 0.2% and 0.3% in the second quarter, GDP in the eurozone and European Union turned positive in the third quarter at 0.4% and 0.2% respectively.
