Growth in leading world economies slowed for the fourth consecutive quarter, gaining just 0.2 per cent in the three months to June, an OECD indicator showed on Monday.
In the April-June period, output of the 33 countries in the Organisation for Economic Cooperation and Development grew 0.2 per cent after 0.3 per cent in the first quarter.
'This is the fourth consecutive quarter of slower growth,' the OECD said, noting a widespread slowdown in developed economies.
Compared with a year earlier, OECD economies grew 1.6 per cent in the second quarter, down sharply from 2.4 per cent in the first, the organisation said.
'The slowdown was particularly marked in the euro area and the European Union, where growth slowed to 0.2 per cent compared to 0.8 per cent in the (first) quarter,' the OECD said.
According to the OECDE, eurozone powerhouse Germany slowed to 0.3 per cent in the second quarter from 1.3 per cent in the first and France stalled at zero growth after 0.9 per cent.
Britain slowed to 0.2 per cent from 0.5 per cent.
However, the United States picked up to 0.3 per cent from 0.1 per cent in the first previous quarter while Japan contracted 0.3 per cent in the second quarter after a contraction of 0.9 per cent in the three months to March, the OECD said.
Source : New Age
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