Growth of real gross domestic product (GDP) in the OECD area slowed marginally to 0.3 % in the third quarter of 2019, compared with 0.4 % in the previous quarter, according to provisional estimates.
Among the Major Seven economies, GDP growth slowed markedly in Japan (to 0.1 %, compared to 0.4 % in the previous quarter).
GDP growth was stable in the United States (at 0.5 %) and it remained stable in France (at 0.3 %) and Italy (at 0.1 %) for the third and fourth consecutive quarter, respectively.
Quarterly Real GDP growth
Percentage change on the previous quarter, seasonally adjusted data
GDP growth picked-up in the United Kingdom and Germany (to 0.3 % and 0.1 %, respectively, following a contraction of 0.2 % in both countries in the previous quarter).
Quarterly Real GDP growth
Percentage change on the same quarter of the previous year, seasonally adjusted data
GDP growth was stable in the Euro Area (at 0.2 %) while it picked-up marginally in the European Union (to 0.3 % compared with 0.2 % in the previous quarter).
Year-on-year GDP growth for the OECD area was stable at 1.6 % in the third quarter of 2019. Among the Major Seven economies, the United States recorded the highest annual GDP growth (2.0 %), while Italy recorded the lowest annual growth (0.3 %).
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