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OECD GDP growth slows to 0.4% in the fourth quarter of 2010

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17/02/11 - Gross domestic product (GDP) in the OECD area grew by 0.4% in the fourth quarter of 2010, down from the 0.6% growth recorded in the previous quarter.

GDP contracted by 0.3% in Japan and by 0.5% in the United Kingdom in the fourth quarter of 2010. In Japan the slowdown partly reflected the unwinding of stimulus measures to boost domestic demand while in the United Kingdom it partly reflected the severe weather; with services and construction being particularly affected. Growth also slowed in Germany to 0.4% (from 0.7% in the previous quarter) and Italy to 0.1% (from 0.3%). In the United States growth accelerated to 0.8% from 0.6% in the previous quarter and in France and the euro area growth remained broadly stable at 0.3%. While in the European Union growth fell to 0.2% from 0.5% in the previous quarter.