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GDP rises by 0.6% in OECD area

By Adam Cadle

Gross domestic product (GDP) in the OECD area has risen by 0.6% in the third quarter of 2011, new figures released by the Organisation for Economic Cooperation and Development have shown.

This is compared to a 0.3% rise in the previous quarter with many financial experts attributing the recent growth rates to improvements in Japan, where growth rose by 1.5% in Q3 compared to a fall in real GDP growth of -0.3% in Q2.

In the Euro area, Germany witnessed a growth increase of 0.5%, France experienced a rise of 0.4%, and growth in the European Union remained at 0.2%.

Statistics for the UK show that for the third quarter of 2011 GDP increased by 0.5%.

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