Global GDP up: OECD

Paris, November 22:

Economic growth picked up slightly in major economies during the third quarter, with the United States and eurozone showing the biggest increases, a preliminary estimate released today by the Organisation for Economic Cooperation and Development (OECD) showed. Gross domestic product (GDP) among the 30 members of the OECD rose by 0.8 per cent, ‘slightly higher’ than the second-quarter figure of 0.7 per cent. “It was also higher than the 0.6 or 0.7 per cent recorded for the five previous quarters and the average quarterly growth rate over the last nine years of 0.7 per cent”, the OECD said. US growth topped the list at 0.9 per cent, roughly the same as its average for the previous seven quarters, while eurozone GDP rose by 0.6 per cent.