|
| OECD economies expand 0.7% in June qtr |
| Press Trust of India / London Aug 18, 2010, 21:59 IST |
|
The economies in the OECD region, comprising mostly developed nations, together grew 0.7 per cent in the three months ended June 2010, as strong expansion in Germany offset sluggish growth in the US and Japan.
The Organisation for Economic Cooperation and Development (OECD) is a grouping of 32 countries and accounts for more than 60 per cent of the world output.
"Gross Domestic Product (GDP) in the OECD area rose by 0.7 per cent in the second quarter of 2010, the same rate as in the previous quarter," the grouping said in a statement today.
The second quarter witnessed Germany registering a robust growth of 2.2 per cent, the best quarterly showing in more than two decades.
However, during the same period, economic expansion in two of the world's largest economies -- the US and Japan -- fell in comparison with the 2010 first quarter.
While the US grew 0.6 per cent in the June quarter, Japanese economy expanded just 0.1 per cent.
In the June quarter, the euro area -- a grouping of 16 nations that share the common currency euro -- clocked a growth of 1 per cent. The region has been hit by severe debt turmoil, which had its epicentre in Greece.
European economic major France had recorded a second quarter growth of 0.6 per cent as against 0.2 per cent in the March quarter.
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
