OECD Nations GDP Flat In Q2

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The gross domestic product of the OECD area was flat in the second quarter, following a 2.1% fall in the preceding quarter, a report by the OECD said.

For the seven major countries, which includes, Canada, France, Germany, Italy, Japan, the UK and the U.S, GDP declined 0.1%.

Among these seven countries, the GDP fell 0.3% in the U.S, by 0.8% in the U.K and declined 0.5% in Italy. At the same time, GDP rose 0.3% each in Germany and France, and climbed 0.9% in Japan in the second quarter.

Meanwhile, the GDP in the European Union fell 0.3%, while it declined 0.1% in the Euro area in the same period.

Compared with the same quarter a year earlier, the GDP for the OECD area slipped 4.6% in the second quarter compared to a 4.7% drop in the first quarter. Moreover, all of the major seven economies continued to show falls in GDP, ranging from a 2.6% fall in France to a 6.5% decline in Japan.

(Market News Provided by RTTNews)