PARIS: Growth in advanced economies slowed down slightly in 2013 from output in 2012, the OECD said yesterday.
These latest statistics on OECD-member countries bear out the struggling and fragile nature of recovery from recession in many countries which analysts have been underlining for several months. “For 2013 as a whole, GDP (gross domestic product) rose by 1.3 percent in the OECD area, down from 1.5 percent in 2012,” the OECD, comprising 34 advanced democracies, said.OECD growth flattened out at six percent in the last three months of 2013, the OECD said, with the United States and Britain being the most dynamic.
That figure was by comparison with output in the third quarter.
But on a 12-month comparison, fourth quarter to fourth quarter, the OECD area achieved growth of 2.2 percent.
On this 12-month basis, Italy was the only OECD country to show shrinking output.AFP
