OECD Q3 Economic Growth Stable At 0.5%

(RTTNews) - The Organization for Economic Cooperation and Development area expanded 0.5 percent sequentially in the third quarter, the same rate as seen in the previous three-month period.

Provisional estimates published by the OECD on Monday showed that annual GDP growth accelerated to 1.4 percent from 1 percent. This was the fastest growth since the second quarter of 2012.

In the United Kingdom and the United States, quarter-on-quarter GDP growth accelerated to 0.8 percent and 0.7 percent, respectively. Meanwhile, growth in Japan slowed to 0.5 percent from 0.9 percent in the previous quarter.

Likewise, German GDP growth eased to 0.3 percent from 0.7 percent. France and Italy, at the same time, contracted in the third quarter. GDP slipped 0.1 percent each in France and Italy.

GDP rose in the European Union and in the euro area by 0.2 percent and 0.1 percent, respectively.