OECD GDP growth falls to 0.4% in first quarter of 2017 | WPN World People News

Quarterly growth of real gross domestic product (GDP) in the OECD area decelerated sharply to 0.4% in the first quarter of 2017, compared with 0.7% in the previous quarter, according to provisional estimates.

‌‌‌‌‌Note: Growth rates presented in this chart are based on data with more than one decimal.

Among the Major Seven economies, in the first quarter of 2017, growth slowed markedly in the United Kingdom (to 0.3%, compared with 0.7% in the previous quarter) and the United States (to 0.2%, compared with 0.5%). Growth also slowed in France (to 0.3%, down from 0.5%) and remained at 0.2% in Italy. On the other hand, growth picked up in Germany, to 0.6%, and Japan, to 0.5%.

In the European Union growth slowed marginally to 0.5% (from 0.6%), while in the euro area it was stable at 0.5%.

Year-on-year GDP growth for the OECD area was stable at 2.0% in the first quarter of 2017. Among the Major Seven economies, the United Kingdom (2.1%) recorded the highest annual growth rate, while Italy and France recorded the lowest growth (0.8%).

Source: Organization for Economic Co-operation and Development