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OECD area GDP growth doubles in Q3

Staff Writer |
Real gross domestic product of the member countries of the Organization for Economic Cooperation and Development area picked up markedly in the third quarter.

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GDP growth doubled to 0.6 percent from 0.3 percent in the second quarter as growth accelerated in most major seven economies, with the exception of the U.K. and Germany, where growth slowed in the third quarter, the OECD said.

In the United States, growth improved to 0.7 percent from 0.4 percent in the previous quarter.

Growth also picked up in Japan, to 0.5 percent from 0.2 percent, and in Italy and France, GDP growth improved to 0.3 percent and 0.2 percent, respectively. In the euro area, growth was stable at 0.3 percent.

Year-on-year, GDP growth for the OECD area came in at 1.7 percent, marginally up from 1.6 percent in the previous quarter.

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