Seasonally-adjusted gross domestic product (GDP) in the OECD area rose by 0.8% in the fourth quarter of 2009, up from 0.6% in the previous quarter. Real GDP grew strongly in the United States and Japan by 1.4% and 1.1%, respectively. By contrast, GDP growth in the Eurozone, slowed to 0.1% in the fourth quarter compared to 0.4% in the third quarter.

GDP growth in France was relatively strong, at 0.6% but German GDP remained unchanged on the previous quarter and in Italy, GDP declined by 0.2%. The United Kingdom recorded positive GDP growth of 0.1% in the fourth quarter after six consecutive quarters of contraction.

Relative to a year earlier, GDP in the OECD contracted by 0.7%, compared to a 3.4% decline in the third quarter of 2009. With the exception of the United States, where GDP was 0.1% higher than a year earlier, GDP contracted in all the Major Seven* economies. Most of the year-on-year decline in OECD GDP reflected developments in the Eurozone (13 countries), which accounted for 0.5% points of the total.

Over the whole of 2009, GDP in the OECD area fell by 3.4%, the first decline since records began in 1960. The contraction of GDP in 2009 ranged between 5.0% in Germany and Japan and 2.2% in France.

Statistics

The 30 member countries of the government think-tank, the Organisation of Economic Cooperation and Development (OECD) are: Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Japan, Korea, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, Slovak Republic, Spain, Sweden, Switzerland, Turkey, United Kingdom, United States.

Chile is due to become the 31st member.