Unwinding of stocks slows OECD GDP growth to 0.5% in the fourth quarter of 2013
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03/04/2014 - Real GDP growth in the OECD area slowed to 0.5% in the fourth quarter of 2013 compared with 0.7% in the previous quarter, as the build up in inventories in Europe seen in the third quarter unwound. Destocking reduced GDP growth by 0.1 percentage point in the fourth quarter. The contribution from private consumption picked up to 0.4 percentage point, with rebounding net exports contributing a further 0.2 percentage point. The contribution from gross fixed capital formationfell marginally to 0.1 percentage point compared with 0.2 percentage point in the previous quarter.