The economic performance of the OECD area is improving where the GDP, in the second quarter of the year, grew by 0,5% on a cyclical basis, accelerating compared to the +0,3% recorded between January and March. The euro area is also doing well, where GDP, according to the OECD, is up 0,3%, against -0,3% in the first three months. The same for the European Union at 27: +0,3% against the previous -0,1%.
Exactly the same cannot be said for Italy where the gross domestic product fell for the eighth consecutive quarter to -0,2%, much better than the -0,6% recorded in the first three months of 2013. In Great Britain and the USA grew by 0,6%, against respectively +0,4% and +0,3% three months earlier. Germany is up 0,7%, against flat growth in the first three months, while France is up 0,5%, against the previous -0,2%. In Japan the run of GDP slows down and goes from +0,9% to +0,6%.
