OECD GDP growth slows in third quarter

GDP in the OECD area slowed to 0.6% in the third quarter of the year, compared with the 0.9% recorded in the second quarter, statistics from OECD showed today.

Despite the slowdown, however, the third quarter rise marks the sixth consecutive quarter of economic growth in the region.

Meanwhile, GDP growth in the EU and eurozone slowed to 0.4%, having been 1% in the second quarter. (article continues below)

In the major seven economies – America, Britain, Canada, France, Germany, Italy and Japan – GDP growth expanded by 0.6% in the third quarter, down marginally from 0.7% in the second quarter.

Relative to the third quarter of 2009, GDP in the OECD has expanded by 3.1%.