22/05/2019 - Growth of real gross domestic product (GDP) in the OECD area picked up strongly to 0.6% in the first quarter of 2019, double the 0.3% rate of the previous quarter, according to provisional estimates.
Among the Major Seven economies, GDP growth accelerated markedly in Germany (to 0.4% after 0.0% in the previous quarter), Italy (0.2%, from minus 0.1%), the United Kingdom (0.5%, from 0.2%) and the United States (0.8%, from 0.5%). It picked up marginally in Japan (0.5%, from 0.4%) and was stable in France (at 0.3%, for the third consecutive quarter).
GDP growth also picked up in the European Union and the euro area (to 0.5% and 0.4%, respectively, compared with 0.3% and 0.2% in the previous quarter).
Year-on-year GDP growth for the OECD area increased marginally to 1.9% compared with 1.8% in the previous quarter. Among the Major Seven economies, the United States recorded the highest annual growth (3.2%), while Italy recorded the lowest annual growth (0.1%).
Link to underlying data - Source: Quarterly National Accounts: Quarterly growth rates of real GDP