National accounts

GDP Growth - First quarter of 2017, OECD


OECD GDP growth falls to 0.4% in first quarter of 2017


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22/05/2017 - Quarterly growth of real gross domestic product (GDP) in the OECD area decelerated sharply to 0.4% in the first quarter of 2017, compared with 0.7% in the previous quarter, according to provisional estimates. 

Among the Major Seven economies, in the first quarter of 2017, growth slowed markedly in the United Kingdom (to 0.3%, compared with 0.7% in the previous quarter) and the United States (to 0.2%, compared with 0.5%). Growth also slowed in France (to 0.3%, down from 0.5%) and remained at 0.2% in Italy. On the other hand, growth picked up in Germany, to 0.6%, and Japan, to 0.5%. 

In the European Union growth slowed marginally to 0.5% (from 0.6%), while in the euro area it was stable at 0.5%. 

Year-on-year GDP growth for the OECD area was stable at 2.0% in the first quarter of 2017. Among the Major Seven economies, the United Kingdom (2.1%) recorded the highest annual growth rate, while Italy and France recorded the lowest growth (0.8%). 

‌‌Click to access underlying data‌‌‌‌

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

Link to underlying data - Source:  Quarterly National Accounts: Quarterly growth rates of real GDP




Next publication date: 28 August 2017



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