Growth of OECD economies slows in Q3

Agence France-Presse . Paris

Leading world economies grew for the sixth quarter in a row in the three months to September, but expansion slowed down sharply from the second quarter, an OECD indicator showed on Monday.
But OECD economies showed growth of 3.1 per cent from the level in the third quarter of last year.
This figure of expansion over 12 months was the same as in the second quarter.
In the third quarter of this year, output by the 33 countries in the Organisation for Economic Cooperation and Development grew by 0.6 per cent in after growth of 0.9 per cent in the second quarter.
‘Growth rates accelerated in Japan (to 0.9 per cent) and, marginally, in the United States (0.5 per cent), compared to the previous quarter, ‘ the organisation said.
The economies of the 16-nation eurozone and of the 27-member European Union each grew by 0.4 per cent, down from 1.0 per cent in the second quarter.
‘At 0.7 per cent, growth in Germany remained relatively robust but this was still sharply down on the record 2.3 per cent growth recorded in the previous quarter,’ the OECD said.
Growth of output also slowed in France to 0.4 per cent, Italy 0.2 per cent and Britain 0.8 per cent.