Modest Growth In OECD GDP

Private consumption was the main contributor to the modest growth of 0.2% in real GDP in the OECD countries in Q1 of 2014 compared with 0.5% in the previous quarter. Government consumption and investment also added slightly to GDP growth but net exports (-0.1%) and destocking (-0.2%) contributed negatively. Gross fixed capital formation added 0.1% points to real GDP growth.

The OECD G7 countries contributions in percentage points: Japan contributed real GDP growth of 1.6%, Germany and the UK contributed 0.8%, Canada 0.3%, France contributed flat economic growth, Italy made a negative contribution, -0.1% and the US contributed -0.7%.