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OECD GDP growth slows to 0.3% in the third quarter of 2019

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19/11/2019 - Growth of real gross domestic product (GDP) in the OECD area slowed marginally‎ to 0.3% in the third quarter of 2019, compared with 0.4% in the previous quarter, according to provisional estimates.

Among the Major Seven economies, GDP growth slowed markedly in Japan (to 0.1%, compared to 0.4% in the previous quarter).

GDP growth was stable in the United States (at 0.5%) and it remained stable in France (at 0.3%) and Italy (at 0.1%) for the third and fourth consecutive quarter, respectively.

GDP growth picked-up in the United Kingdom and Germany (to 0.3% and 0.1%, respectively, following a contraction of 0.2% in both countries in the previous quarter‎).

GDP growth was stable in the euro area (at 0.2%) while it picked-up marginally in the European Union (to 0.3% compared with 0.2% in the previous quarter).

Year-on-year GDP growth for the OECD area was stable at 1.6% in the third quarter of 2019. Among the Major Seven economies, the United States recorded the highest annual GDP growth (2.0%), while Italy recorded the lowest annual growth (0.3%).

• Next publication date: Third week of February 2020
• Contacts: For further information, journalists are invited to contact the OECD's Media Relations Division on (33) 1 45 24 97 00 or news.contact@oecd.org;  others should contact the Statistics Directorate on stat.contact@oecd.org.
• Link to previous news releases
• More information on quarterly national accounts at www.oecd.org/std/qna

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