The Organization for Economic Cooperation and Development grew 0.4 percent sequentially in the first quarter, the Paris-based organization said Friday. The growth rate improved slightly from 0.3 percent in the fourth quarter of 2011.
However, the total GDP continues to mask diverging patterns among member countries.
Japan and the United States expanded 1 percent and 0.5 percent, respectively. Meanwhile, economic activity remained weak in the euro area and the European Union as a whole.
On a yearly basis, the OECD area expanded 1.6 percent in the first quarter, faster than the 1.4 percent increase a quarter ago.
by RTT Staff Writer
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