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OECD reports GDP growth doubles to 0.6 pct in Q3

Xinhua, November 22, 2016 Adjust font size:

The Organization for Economic Cooperation and Development (OECD) announced Monday that in the third quarter of this year, the real gross domestic product (GDP) growth in the OECD area has doubled from 0.3 percent of the previous quarter to 0.6 percent.

According to OECD, growth has accelerated during the third quarter of 2016 in the major seven economies, including United States, European Union, Japan, Italy, France, Britain and Germany.

OECD said during the third quarter, growth has accelerated quarterly to 0.7 percent from 0.4 percent in the United States, while in Japan GDP growth has picked up to 0.5 percent compared with 0.2 percent.

In Italy and France, growth has increased respectively to 0.3 percent and 0.2 percent from 0 percent and minus 0.1 percent in the previous quarter.

However, in Britain and Germany, growth has slowed respectively to 0.5 percent and 0.2 percent, compared with 0.7 percent and 0.4 percent in the previous quarter.

OECD said also that in the European Union and in the euro area, growth kept stable respectively at 0.4 percent and 0.3 percent.

Calculated by year-on-year GDP growth, the OECD area growth reached 1.7 percent in the third quarter of 2016, marginally up from 1.6 percent in the same quarter of 2015. Enditem