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GDP of OECD Area Stable in Q2

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The Organization for Economic Cooperation and Development (OECD) reported on Wednesday that the gross domestic product (GDP) of its 30 member nations has become stable in the second quarter.

According to preliminary estimates, GDP in the OECD area, which covers the world's most industrialized countries, was flat between April and June, following a fall of 2.1 percent in the previous quarter.

France, Germany and Japan showed economic growth in the second quarter. Japan's GDP grew 0.9 percent quarter-on-quarter. The GDPs of both France and Germany rose 0.3 percent.

But the GDP of the United States fell by 0.3 percent over the period, and by 0.8 percent in Britain.

Compared to a year earlier, the GDP in the OECD area fell 4.6 percent, said the Paris-based organization.

(Xinhua News Agency August 20, 2009)

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