Finance

OECD GDP growth slows in Q4 of 2017

By Hajer M’tiri

PARIS 

Real gross domestic product (GDP) in the OECD area slowed to 0.6 percent in the fourth quarter of 2017 compared with 0.7 percent the previous quarter, according to provisional estimates.

The Organization for Economic Cooperation and Development (OECD) released new data on Monday indicating that economic growth in the European Union and the euro area slowed “marginally” to 0.6 percent from 0.7 percent.

GDP slowed markedly in Japan to 0.1 percent, compared with 0.6 percent the previous quarter.

It slowed marginally in the United States and Germany to 0.6 percent from 0.8 percent and 0.7 percent respectively in the previous quarter, and Italy to 0.3 percent, from 0.4 percent.

However, growth picked up slightly in France and the United Kingdom to 0.6 percent and 0.5 percent from 0.5 percent and 0.4 percent respectively.

Germany recorded the highest annual growth (2.9 percent) among G7 countries, while the U.K. recorded the slowest annual growth (1.5 percent).

GDP growth for the OECD area decelerated to 2.6 percent in the fourth quarter of 2017, compared with 2.8 percent in the previous quarter.

For 2017 as a whole, GDP rose by 2.5 percent in the OECD area, up from 1.8 percent in 2016.


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