Economic growth in the Organisation for Economic Cooperation and Development area has slowed for a fourth quarter running, the latest statistics show.
GDP growth in the organisation’s 34 member states fell to 0.2 per cent during the second quarter of 2011, down from the 0.3 per cent posted in the first. Expansion has slowed every quarter from the 1 per cent recorded in 2010’s second quarter.
The slowdown was “particularly marked” in the eurozone, the OECD says. Economic growth in Germany dropped from 1.3 per cent to 0.1 per cent, while in France it fell from 0.9 per cent to zero.
However, some countries benefited from higher GDP in the second quarter. Both the US and Italian growth rates rose from 0.1 per cent to 0.3 per cent over the three months.