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Unit labour costs (ULCs) in OECD countries fell 0.2% in the second quarter of 2013 as labour productivity growth (0.4%) outpaced a rise in labour compensation (0.2%).
Quarterly Gross Domestic Product (GDP) in the G20 area grew by 0.9% in the second quarter of 2013 compared with 0.6% in the previous quarter, according to preliminary estimates. GDP growth accelerated in most of the world’s largest economies but slowed marginally in Canada and Japan and significantly in Mexico.
Composite leading indicators (CLIs) continue to signal diverging growth patterns across major economies. The CLIs point to improvements in growth in most major OECD countries but stabilising or slowing momentum in large emerging economies.
Consumer prices in the OECD area rose by 1.9% in the year to July 2013 compared with 1.8% in the year to June 2013.
Merchandise trade growth increased in the major economies during the first quarter of 2013. Compared to the fourth quarter of 2012, the value of merchandise imports and exports for the total of G7 and BRICS countries increased by 1.3% and 2.8%, respectively.