By Gokhan Ergocun
ISTANBUL (AA) - The gross domestic product (GDP) in the Organization for Economic Cooperation and Development (OECD) rose by 0.3% in the fourth quarter of 2024, slowing from 0.5% in the previous quarter.
Quarterly OECD GDP growth rates have remained relatively stable over the past two years, the organization said in a press release on Thursday.
The overall GDP growth rate also slowed for the G7 countries in the October-December period of 2024, from 0.5% to 0.4%; GDP growth contracted in France, from 0.4% to -0.1%, and in Germany, from 0.1% to minus 0.2%.
Growth slowed in the US, from 0.8% to 0.6%, driven by a decline in investments and a 0.2% contraction in exports.
Real GDP in Italy remained stable in the last two quarters while growth accelerated notably in Japan, from 0.4% to 0.7%.
Growth increased marginally in Canada (from 0.3% to 0.4%) and the UK (from 0.1% to 0.2%).
Among other OECD economies for which data is available, Ireland recorded the largest fall in GDP in the fourth quarter with minus 1.3%, followed by Mexico and Norway with minus 0.6% in both countries.
Portugal recorded the highest quarter-on-quarter growth rate with 1.5%, followed by Costa Rica at 1.4% and Poland at 1.3%.