Strong improvement in net exports sustains OECD GDP growth in the fourth quarter of 2010
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08/04/2011 - Real GDP in the OECD area grew by 0.5% in the fourth quarter of 2010. Net exports and private consumption were the main contributors partly offset by an unwinding of inventories. This reverses the pattern seen in earlier quarters where inventory-rebuilding had contributed positively to GDP growth and net exports had contributed negatively.
Over the whole of 2010, private consumption was the main driver of real GDP annual growth, contributing 1.2 percentage point to the overall 2.9% recorded growth.