OECD Growth Of 0.2% In Q3

The OECD's provisional estimates for growth in member's GDP suggest an increase of 0.2% for the third quarter of 2012. The rate is the same for the previous quarter but there was divergent change across countries. GDP growth in the UK accelerated to 1% due to the Olympics. In the US growth increased to 0.5% from 0.3%. Growth in Framnce was also up to 0.2% from 0.1%. Growth slowed down in Germany and Italy saw the fifth consecutive month of contraction. In the G7, the seven major economies, on the annual comparison the US had the highest growth rate with 2.3% and Italy the largest contraction, -2.4%.