OECD GDP 'rose in Q3'

Gross domestic product (GDP) in the Organisation for Economic Cooperation and Development (OECD) areas increased in the third quarter of 2009, preliminary estimates indicate.

The figures suggest that over the three-month period, the seasonally-adjusted GDP rose by 0.8 per cent, compared to zero per cent in the previous quarter.

Within the area, ’considerable’ variation in national rates was recorded by the body.

For example, a 1.2 per cent increase was observed in Japan, while a 0.4 per cent contraction was posted in the UK.

This represents the sixth consecutive quarter of contraction in the country.

However, the UK was among the countries that posted improved GDP growth on the previous three months.

France was the only country in the OECD area not to record an increase, with its GDP growth remaining unchanged when compared to the prior-quarter period.

Earlier in November, the OECD noted that composite leading indicators for September 2009 ’strongly’ point to growth in the UK, France, Italy and China.ADNFCR-2318-ID-19475878-ADNFCR