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GDP in the OECD area stabilised in the second quarter of 2009

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19/08/2009 - Gross domestic product (GDP) in the OECD area stabilised in the second quarter of 2009 (minus 0.002%), according to preliminary estimates, following a fall of 2.1% in the previous quarter.

For the Major Seven* countries, GDP fell marginally by 0.1% but with considerable variation in national rates, ranging from a 0.9% increase in Japan, following two quarters of significant falls (minus 3.1% and minus 3.5%), to a 0.8% decline in the United Kingdom. Positive growth was also recorded in France and Germany, both up 0.3% compared with falls of 1.3% and 3.5% respectively in the previous quarter. GDP fell by 0.3% in the United States following a 1.6% fall in the previous quarter. etc.

Link to quarterly GDP volume growth rates for all OECD countries and geographic groupings, as well as historical data.

The next issue of this press release is scheduled for the third week of November 2009.

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.

Link to previous news releases