Gross Domestic Product (GDP) in the Organization for Economic Co-operation and Development (OECD) countries grew by 0.5 percent in the third quarter of this year.
According to the preliminary data announced by the OECD, growth in G7 countries, which was 0.2 percent in the second quarter, increased to 0.6 percent in the third quarter. USA The acceleration of economic growth was effective in this increase.
While the increase in consumption was effective in the growth of the US economy, the decrease in private sector and public expenditures in the UK was reflected in the growth performance. The decline in domestic demand in Italy and the decrease in private expenditures in Germany affected the growth performance.
GROWTH FIGURES OF MAJOR COUNTRIES
Among the G7 countries, the economy in Canada, Italy and the United Kingdom failed to grow in the third quarter. A growth of 0.1 percent was seen in France. In Japan and Germany, the economy shrank by 0.5 percent and 0.1 percent, respectively, in this period.
Among other OECD countries for which relevant data is available, economic growth in Poland and Costa Rica in the third quarter was 1.4 percent and 1.3 percent, respectively. The economy in Hungary and Mexico grew by 0.9 percent in this period.
Ireland and Finland were the countries with economic contraction of 1.8 percent and 0.9 percent, respectively. Euro The region’s economy shrank by 0.1 percent in the third quarter.
Thus, the economy in OECD countries grew by 0.5 percent in the third quarter of this year, as in the second quarter of the year.
Economic growth in OECD countries was recorded as 0.5 percent for two consecutive quarters.