OECD Q1 GDP up 0.6 pct from Q4, up 2.7 pct yr-on-yr |
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Wed, 30 May 2007 11:17
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PARIS (Thomson Financial) - OECD area GDP growth slowed in the first quarter from the strong pace recorded in the fourth quarter of last year.OECD area GDP grew 0.6 pct in the first quarter compared with the fourth quarter, following a revised fourth-quarter increase of 0.8 pct, the OECD said.The OECD had previously reported that GDP grew 0.9 pct in the fourth quarter.US growth slowed to 0.3 pct in the first quarter from 0.6 pct in the fourth quarter, while euro zone growth eased to 0.6 pct from 0.9 pct and Japan's growth figure slowed to 0.6 pct from 1.2 pct.OECD area GDP grew 2.7 pct year-on-year in the first quarter, against a year-on-year rate of 3.3 pct in the fourth quarter.The euro zone accounted for 0.8 percentage points of the 2.7 pct OECD area year-on-year growth rate, with the US contributing 0.7 points, Japan 0.2 points and other countries 0.9 points.steve.whitehouse@thomson.comsw/jrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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