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GDP Growth - Fourth Quarter 2014, Quarterly National Accounts, OECD

 

OECD GDP growth slows marginally to 0.5% in the fourth quarter of 2014

 

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19/02/2015 - According to provisional estimates, growth of quarterly gross domestic product (GDP) in the OECD area slowed marginally to 0.5% in the fourth quarter of 2014, down from 0.6% in the third quarter.

Amongst the Major Seven economies, GDP growth slowed most in the United States, easing to 0.7% compared with rates of 1.2% and 1.1% in the two previous quarters. Growth also slowed in the United Kingdom to 0.5%, compared with 0.7% in the previous quarter. 

On the other hand, in Japan, growth picked up strongly (to 0.6% following two quarters of contractions of minus 0.6% and minus 1.7%).

 Growth also picked up strongly in Germany (to 0.7% compared with the relatively flat two previous quarters), while in France growth slowed (to 0.1% compared with 0.3% in the previous quarter). Economic growth was flat in Italy. While reflecting a small improvement compared with the previous quarter, it marked the fourteenth consecutive quarter without expansion.                

Growth in the European Union (0.4%) and in the euro area (0.3%) continued to show a slight improvement as in the previous quarter.  

Year-on-year GDP growth for the OECD area remained stable at 1.8% in the fourth quarter of 2014. Among the Major Seven economies, the United Kingdom recorded the highest annual growth rate (2.7%), followed by the United States (2.5%). In Japan and Italy, GDP contracted by minus 0.4% and by minus 0.3% respectively. 

For 2014 as a whole, GDP rose by 1.9% in the OECD area, up from 1.4% in 2013. 

Gross domestic product
Percentage change on the previous quarter, seasonally adjusted data

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Note: Growth rate presented in this chart are based on data with more than one decimal.

Source: Quarterly National Accounts: Quarterly growth rates of real GDP

 

 

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Next publication date: 20 Mai 2015

 
 

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Contacts
For further information, journalists are invited to contact the OECD's Media Relations Division on (33) 1 45 24 97 00 or news.contact@oecd.org;  others should contact the Statistics Directorate on stat.contact@oecd.org.

 
 

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More information on quarterly national accounts at www.oecd.org/std/qna
 

 

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