OECD GDP growth slows to 0.6% in fourth quarter of 2017

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19/02/2018 - Quarterly growth of real gross domestic product (GDP) in the OECD area slowed slightly to 0.6% in the fourth quarter of 2017, compared with 0.7% in the previous quarter, according to provisional estimates.

Among the Major Seven economies, GDP growth slowed markedly in Japan (to 0.1%, compared with 0.6% in the previous quarter). It also slowed, albeit marginally, in the United States and Germany (to 0.6%, from 0.8% and 0.7% respectively in the previous quarter), and Italy (to 0.3%, from 0.4%).

On the other hand, growth picked up slightly in France (to 0.6%, from 0.5%), and the United Kingdom (to 0.5%, from 0.4%).

In the European Union and the euro area, growth slowed marginally (to 0.6% from 0.7%).

Year-on-year GDP growth for the OECD area decelerated to 2.6% in the fourth quarter of 2017, compared with 2.8% in the previous quarter. Among the Major Seven economies, Germany recorded the highest annual growth (2.9%), while the United Kingdom recorded the slowest annual growth (1.5%).

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For further information, journalists are invited to contact the OECD's Media Relations Division on (33) 1 45 24 97 00 or news.contact@oecd.org; others should contact the Statistics Directorate on stat.contact@oecd.org. >> Link to previous news releases >> More information on quarterly national accounts at www.oecd.org/std/qna