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OECD GDP growth slows to 0.4% in the third quarter of 2015

Staff writer |
Growth of real gross domestic product (GDP) in the OECD area slowed to 0.4% in the third quarter of 2015, down from 0.6% in the second quarter.

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Real GDP growth decelerated in most of the Major Seven economies, with the exception of France, where it rebounded to 0.3% in the third quarter, up from flat growth in the second quarter. In Japan, GDP continued to contract by 0.2% for the second consecutive quarter.

In the United States economic growth slowed strongly to 0.4% in the third quarter, compared with 1.0% in the previous quarter. Growth also slowed in the United Kingdom (to 0.5%, compared with 0.7% in the previous quarter).

In Germany and in Italy, real GDP growth slowed marginally to 0.3% and 0.2%, respectively, down from 0.4% and 0.3% in the previous quarter. In the European Union, GDP growth remained stable at 0.4% in the third quarter of 2015, while it slowed marginally in the euro area (0.3%, down from 0.4% in the second quarter of 2015).

Year-on-year GDP growth for the OECD area slowed to 2.0% in the third quarter of 2015, down from 2.2% in the previous quarter. Among the Major Seven economies, the United Kingdom (2.3%) and the United States (2.0%) continued to record the highest annual growth rates (although down on the rates of 2.4% and 2.7%, respectively, in the previous quarter).

Italy continued to record the lowest annual growth rate (0.9%), although it was up on the previous quarter (0.6%).

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