OECD GDP growth slows to 0.3% in the third quarter of 2019
19/11/2019 – 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.
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).
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%).
Link to underlying data – Source: Quarterly National Accounts: Quarterly growth rates of real GDP
- Next publication date: Third week of February 2020