ECONOMY: GDP growth slows to 0.2% in fourth quarter …

GLOBAL ECONOMY: OECD GDP growth slows to 0.2% in the fourth quarter of 2019 Syndicated by GEO´ PRChannel Team Málaga Technology Centre Growth of real  gross domestic product  (GDP)  in the OECD area slowed to  0.2% in the  fourth  quarter of 2019, compared with 0.4% in the previous quarter, according to provisional estimates. Among the Major Seven economies with data available for the fourth quarter of 2019, only the United States saw GDP increase (up 0.5%, unchanged from the previous quarter). GDP  contracted  sharply  in Japan (by  minus  1.6%,  following October’s  increase  in  consumption  tax) and also contracted in Italy (by minus 0.  3%) and France(by minus 0.  1%).  GDP growth  slowed  to  zero  in the United  Kingdom and Germany (following  growth  of  0.5%  and 0.2% respectively in the previous quarter) and also slowed in the euro area and in the European Union (to 0.1%, from 0.3% in the previous quarter). Year-on -year GDP growth for the OECD area slowed to 1.6% in  the fourth quarter of 2019, from 1.7%  in  the  previous  quarter.  Among  the Major Seven economies,  the United States recorded  the  highest annual GDP growth (2.3%), while Japan recorded the lowest annual growth. Read the full report here About OECD The Organisation for Economic Co-operation and Development (OECD; French: Organisation de coopération et de développement économiques, OCDE) is an intergovernmental economic organisation with 36 member countries, founded in 1961 to stimulate economic progress and world trade. It is a forum of countries describing themselves as committed to democracy and the market economy, providing a platform to compare policy experiences, seek answers to common problems, identify good practices and coordinate domestic and international policies of its members. Most OECD members are high-income economies with a very high Human Development Index (HDI) and are regarded as developed countries. As of 2017, the OECD member countries collectively comprised 62.2% of global nominal GDP (US$49.6 trillion)and 42.8% of global GDP at purchasing power parity. The OECD is an official United Nations observer.