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Daily News

OECD: 2Q GDP Up in Europe, Slows in U.S. and Japan
Aug 18, 2010
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Gross domestic product (GDP) in the OECD area rose by 0.7% in the second quarter of 2010, the same rate as in the previous quarter. Real GDP grew by 1% in both the euro area and the European Union driven by record growth of 2.2% in Germany - its highest rate since reunification.

GDP growth was:
• 1.1% in the United Kingdom, up from 0.3% in the previous quarter
• 0.6% in France, up from 0.2%
• 0.4% in Italy, unchanged from the previous quarter.

By contrast, GDP growth in Japan and the United States slowed to 0.1% and 0.6% respectively, compared with 1.1% and 0.9% in the previous quarter.

Relative to a year earlier, GDP in the OECD area expanded by 2.8%, up from 2.4% in the previous quarter. Germany at 3.7% had the highest rate and Italy, at 1.1%, the lowest.

OECD-Total includes these 31 countries:

• Australia
• Austria
• Belgium
• Canada
• Chile
• Czech Republic
• Denmark
• Finland
• France
• Germany
• Greece
• Hungary
• Iceland
• Ireland
• Italy
• Japan
• Korea
• Luxembourg
• Mexico
• Netherlands
• New Zealand
• Norway
• Poland
• Portugal
• Slovak Republic
• Spain
• Sweden
• Switzerland
• Turkey
• United Kingdom
• United States

The G7 area covers:
• Canada
• France
• Germany
• Italy
• Japan
• United Kingdom
• United States

The euro area covers:

• Austria
• Belgium
• Finland
• France
• Germany
• Greece
• Italy
• Ireland
• Luxembourg
• the Netherlands
• Portugal
• Spain

The EU15 area covers the euro area plus:

• Denmark
• Sweden
• United Kingdom

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