OECD Quarterly National Accounts Paris, 20 May 2014
News Release: OECD GDP growth, first quarter 2014
OECD GDP rose by 0.4% in the first quarter of 2014, but with large diverging patterns across countries
Provisional estimates show that quarterly real gross domestic product (GDP) in the OECD area rose by 0.4% in the first quarter of 2014, down from 0.5% in the previous quarter.
The OECD total masks a wide spectrum of growth rates across countries, however. Real GDP growth accelerated strongly in Japan to 1.5%, compared with 0.1% in the previous quarter. In Germany, GDP grew by 0.8%, up from 0.4% in the fourth quarter of 2013. The United Kingdom also showed a strong growth of 0.8%, following a growth rate of 0.7% in the fourth quarter. In the United States and France, on the other hand, GDP growth rates were almost flat, compared with 0.7% and 0.2%, respectively in the previous quarter. And in Italy, GDP contracted by 0.1% in the first quarter of 2014, compared with a growth of 0.1% in the previous quarter.
In the Euro area, GDP growth remained stable, at 0.2% in the first quarter of 2014, while it decreased slightly in the European Union (0.3%, compared with 0.4%).
GDP year-on-year growth for the OECD area, at 2.1% in the first quarter of 2014, was slightly higher than in the fourth quarter of 2013 (2.0%). Among the Major Seven economies, the United Kingdom recorded the highest growth rate (3.1%) compared with the first quarter of 2013, followed by Japan (2.7%).
Italy was the only country reporting a contraction (minus 0.5%).
Gross domestic product
Percentage change on the previous quarter, seasonally adjusted data
Note: Growth rate presented in this chart are based on data with more than one decimal.
>> Methodological Notes:
Further methodological information can be downloaded from:
http://www.oecd.org/std/na/OECDQuarterlyGDPGrowth_Methodology_EN.pdf
andhttp://www.oecd.org/std/na/G20QuarterlyGDPGrowth_Methodology.pdf.
>> Access data:
Quarterly real GDP growth rates for all OECD countries and geographic groupings, as well as historical data, can be downloaded from the OECD online data dissemination facility OECD.Stat at: http://stats.oecd.org/WBOS/Index.aspx?QueryName=350.
>> Contacts:
For further information journalists are invited to contact the OECD’s Media Relations Division on (33) 1 45 24 97 00 or at [email protected] ; others should contact the Statistics Directorate at [email protected].
>> Next QNA releases:
G20 GDP growth – Q1 2014: 12 June 2014
Contributions to OECD GDP growth – Q1 2014: 3 July 2014 OECD GDP growth – Q2 2014: fourth week of August 2014
-0.4 -0.2 0 0.2 0.4 0.6 0.8 1 1.2 1.4 1.6
Italy United States France Euro area European
Union Major Seven OECD-Total United
Kingdom Germany Japan
2014 Q1 2013 Q4
OECD Quarterly National Accounts Paris, 20 May 2014
News Release: OECD GDP growth, first quarter 2014
Quarterly Real GDP growth
Percentage change on the previous quarter, seasonally adjusted data
* Latest quarter not yet available.
Quarterly Real GDP growth
Percentage change on the same quarter of the previous year, seasonally adjusted data
* Latest quarter not yet available.
2014
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
OECD-Total 0.5 0.1 0.2 0.0 0.3 0.6 0.7 0.5 0.4
G20* 0.8 0.6 0.6 0.6 0.7 0.9 1.0 0.8 ..
European Union 0.0 -0.2 0.0 -0.4 0.0 0.4 0.3 0.4 0.3
Euro area -0.1 -0.3 -0.2 -0.5 -0.2 0.3 0.1 0.2 0.2
Major Seven 0.6 0.0 0.3 -0.1 0.3 0.6 0.7 0.5 0.3
Canada* 0.2 0.4 0.2 0.2 0.7 0.5 0.7 0.7 ..
France 0.2 -0.3 0.3 -0.3 0.0 0.6 -0.1 0.2 0.0
Germany 0.7 -0.1 0.2 -0.5 0.0 0.7 0.3 0.4 0.8
Italy -1.1 -0.5 -0.4 -0.9 -0.6 -0.3 -0.1 0.1 -0.1
Japan 0.9 -0.6 -0.8 0.1 1.2 0.9 0.3 0.1 1.5
United Kingdom 0.0 -0.4 0.8 -0.2 0.4 0.8 0.8 0.7 0.8
United States 0.9 0.3 0.7 0.0 0.3 0.6 1.0 0.7 0.0
2012 2013
2014
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
OECD-Total 2.1 1.8 1.4 0.8 0.6 1.1 1.5 2.0 2.1
G20* 3.6 3.3 3.0 2.7 2.6 2.8 3.2 3.4 ..
European Union 0.1 -0.3 -0.5 -0.7 -0.7 -0.1 0.2 1.0 1.4
Euro area -0.2 -0.5 -0.7 -1.0 -1.1 -0.6 -0.3 0.5 0.9
Major Seven 2.3 1.9 1.6 0.8 0.5 1.2 1.5 2.1 2.1
Canada* 2.0 2.6 1.2 1.0 1.5 1.7 2.2 2.7 ..
France 0.6 0.4 0.5 0.0 -0.2 0.7 0.3 0.8 0.8
Germany 1.3 1.1 0.9 0.3 -0.3 0.5 0.6 1.4 2.3
Italy -1.7 -2.4 -2.6 -2.8 -2.4 -2.1 -1.9 -0.9 -0.5
Japan 3.1 3.2 -0.2 -0.3 -0.1 1.4 2.5 2.5 2.7
United Kingdom 0.6 0.1 0.3 0.2 0.5 1.7 1.8 2.7 3.1
United States 3.3 2.8 3.1 2.0 1.3 1.6 2.0 2.6 2.3
2012 2013
