OECD Area GDP Growth Doubles

Real gross domestic product of the member countries of the Organization for Economic Cooperation and Development area picked up markedly in the third quarter, data showed Monday, RTTnews reported. GDP growth doubled to 0.6% from 0.3% in the second quarter as growth accelerated in most major seven economies, with the exception of the UK and Germany, where growth slowed in the third quarter, the OECD said. In the United States, growth improved to 0.7% from 0.4% in the previous quarter. Year-on-year, GDP growth for the OECD area came in at 1.7%, marginally up from 1.6% in the previous quarter.