OECD Countries Raise Growth To 0.9% In Fourth Quarter

Increase from 0.5% in third quarter.

The 30 industrialized countries in the OECD area increased growth to 0.9% in the fourth quarter of 2006 from 0.5% in the third quarter, the organization said on Feb. 19.

The OECD said that the U.S. economy grew by 0.9% in the fourth quarter, slightly more than in the previous two quarters.

Japanese gross domestic product grew by 1.2% which was the highest rate of growth since the first quarter of 2004.

Output in the eurozone rose by 0.9% from 0.5%.

Of the seven biggest countries in the OECD, France had the lowest fourth-quarter growth of 0.6%-0.7% and Japan the highest. Italy, with growth of 1.1%, acieved its highest growth for seven years.

In the seven countries, and on a 12-month comparison, Germany had the highest growth of 3.7% and France and Japan the lowest of 2.3%.

Copyright Agence France-Presse, 2007

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