Sluggish demand slows OECD GDP growth in the second quarter of 2012
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11/10/2012 - Real GDP growth in the OECD area slowed to 0.2% in the second quarter of 2012, compared with 0.4% in the first quarter. Private consumption, which contributed 0.1 percentage point to GDP growth, compared with 0.3 percentage point in the previous quarter, was the main driver for the overall slowdown. The contributions of government consumption and gross fixed capital formation were negligible in the second quarter, compared with 0.1 percentage point in the first quarter. These effects were partially offset by stockbuilding, which contributed 0.1 percentage point to overall GDP growth in the second quarter. The contribution of net exports was 0.1 percentage point, unchanged from the previous quarter.