Fast growth for advanced economies
Print Edition
Growth in advanced economies picked up speed in the second quarter, rising to 0.5 percent from 0.3 percent at the beginning of this year with a sharp recovery in the eurozone, the OECD said yesterday.
The increase was driven by the United States, Germany and Britain, and a big bounce by France, the Organization for Economic Cooperation and Development said on the basis of provisional data.
But the Japanese economy slipped back.
The OECD is a research and policy forum for 34 leading democratic economies.
The British economy grew 0.6 percent, and the US 0.4 percent. Both grew 0.3 percent in the first quarter. Germany’s economy grew by 0.7 percent from a flat growth rate.
The OECD said that the eurozone had switched into growth of 0.3 percent from contraction of 0.3 percent in the first quarter.
Noting for the eurozone “the first GDP expansion since the third quarter of 2011,” the OECD also said trailing eurozone member France grew 0.5 percent from a 0.2 percent drop.
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