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OECD nations show strong growth in Dec quarter

OECD nations show strong growth in Dec quarter
AFP
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First Published: Wed, Feb 17 2010. 07 33 PM IST
Updated: Wed, Feb 17 2010. 07 33 PM IST
Paris: Leading industrialized nations showed a strong pick-up in growth in the fourth quarter of 2009, driven by the United States and Japan but momentum slowed in the eurozone, the OECD said on Wednesday.
Adjusted gross domestic product rose 0.8% in the 30 OECD members from 0.6% in the third quarter of 2009.
Compared with the fourth quarter of 2008 growth shrank 0.7% after an annual contraction of 3.4% in the third quarter of last year.
In fourth quarter 2009, the growth expanded 1.4% in the United States from the previous three months and 1.1% in Japan, the Organization for Economic Cooperation and Development (OECD) said.
But in the eurozone momentum slowed to 0.1% from 0.4% in the third quarter.
For all of 2009, gross domestic product in OECD members shrank by 3.4%, the first decline since records began in 1960.
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First Published: Wed, Feb 17 2010. 07 33 PM IST
More Topics: OECD | Growth | Economy | US | Japan |