Growth in leading world economies slowed for the fourth consecutive quarter, gaining just 0.2% in the three months to June, an OECD indicator showed today.
In the April-June period, output of the 33 countries in the Organisation for Economic Cooperation and Development grew 0.2% after 0.3% in the first quarter.
'This is the fourth consecutive quarter of slower growth,' the OECD said, noting a widespread slowdown in developed economies.
Compared with a year earlier, OECD economies grew 1.6% in the second quarter, down sharply from 2.4% in the first, the Paris-based organisation said.
'The slowdown was particularly marked in the euro area and the European Union, where growth slowed to 0.2% compared to 0.8% in the first quarter,' the OECD said.
According to today's data, euro zone powerhouse Germany slowed to 0.3% in the second quarter from 1.3% in the first and France stalled at zero growth after 0.9%. Britain slowed to 0.2% from 0.5%.
However, the US picked up to 0.3% from 0.1% in the first previous quarter while Japan contracted 0.3% in the second quarter after a contraction of 0.9% in the three months to March, the OECD said.
