OECD Quarterly National Accounts - Third Quarter 2008

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OECD area GDP down 0.1% in the third quarter of 2008

20/11/2008 - Gross domestic product (GDP) in the OECD area declined by 0.1% in the third quarter of 2008, the first fall in seven years, according to preliminary estimates.

In the United States GDP fell by 0.1% in the third quarter of 2008, the first contraction since the third quarter of 2001. Japan's GDP declined by 0.1%, following a 0.9% fall in the previous quarter. GDP in the euro area was down by 0.2%, the same rate of decline as in the previous quarter. etc.

The next issue of this press release is scheduled for the third week of February 2009.

For further information, journalists are invited to contact the OECD's Media Relations Division on (33) 1 45 24 97 00 or news.contact@oecd.org; others should contact the Statistics Directorate on stat.contact@oecd.org.

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