OECD GDP growth slows in third quarter

The OECD noted that data on the performance of the US economy were not yet available.

According to the report, GDP growth accelerated in 12 countries compared to the second quarter, remained unchanged in three, growth slowed in five, and in another five countries (Japan, Finland, Ireland, Lithuania and Mexico) and economic performance contracted.

Among the G7 countries, economic growth accelerated in France (from 0.3 percent to 0.5 percent), while it slowed in the United Kingdom (from 0.3 percent to 0.1 percent). Canada’s GDP grew by 0.1 percent after a 0.4 percent decline in the second quarter, while Japan’s economy contracted by 0.4 percent after a 0.6 percent growth in the second quarter. Germany and Italy stagnated after falling by 0.2 percent and 0.1 percent respectively.

Israel’s economy grew the fastest among all OECD countries, by 3 percent, after contracting by 1.1 percent in the second quarter.

On an annual basis, OECD GDP grew by 1.5 percent in the third quarter, following an annual expansion of 1.7 percent in the second quarter. The strongest growth was in the United Kingdom at 1.3 percent, and the weakest was in Germany at 0.3 percent.