Annual inflation in the OECD area rose by 1.9% in the year to November 2012, compared with 2.2% in the year to October 2012. This easing in the annual rate of inflation mainly reflected slower growth in energy prices, which increased by 2.9% in November, down from 5.4% in October.
Quarterly Gross Domestic Product (GDP) in the G20 area grew by 0.6% in the third quarter of 2012 compared with 0.5% in the second quarter, according to preliminary estimates. The aggregate G20 GDP growth rate however continues to mask diverging patterns across economies.
Composite leading indicators (CLIs), designed to anticipate turning-points in economic activity relative to trend, show diverging patterns across major economies.
Merchandise trade continued to slow in most major economies in the third quarter of 2012 compared to the second quarter of 2012.