OECD GDP growth picks up marginally in second quarter of 2018 | WPN World People News

Growth of real gross domestic product (GDP) in the OECD area picked up marginally, to 0.6%, in the second quarter of 2018, compared with 0.5% in the previous quarter, according to provisional estimates.

Among the Major Seven economies, GDP growth accelerated strongly in the United States, to 1.0% compared with 0.5% in the previous quarter, and Japan, rebounding to 0.5% following a contraction of 0.2%. GDP growth also accelerated, though to a lesser extent, in Germany (to 0.5%, from 0.4%) and the United Kingdom (to 0.4%, from 0.2%). In France, growth was stable at 0.2%, while it slowed marginally in Italy (to 0.2%, from 0.3%).

GDP growth was stable at 0.4% in both the European Union and the euro area in the second quarter of 2018.

Year-on-year GDP growth for the OECD area continued to slow marginally, to 2.5% in the second quarter of 2018, compared with 2.6% in the previous quarter. Among the Major Seven economies, the United States recorded the highest annual growth (2.8%), while Japan recorded the slowest annual growth (1.0%).

Source: Organization for Economic Co-operation and Development