The real GDP of the OECD area grew by 2011% in the first quarter of 0,5, confirming the stability already noted in the last months of 2010. Although the weight of private consumption has decreased, which nonetheless remains the main driver (from 0,4% in the fourth quarter of 2010 to 0,2%) in the main economies. This loss was offset by a significant increase in the contribution of stocks (to +0,1% from -0,4%).
On the other hand, everything remains at a standstill in Italy where the GDP maintains the +0,1% of the previous quarter. The main engine of Italian growth is exports even if, underlines the organization for economic development, a significant contribution has been made by the disposal of stocks.
These instead are the main OECD updates, in the first quarter of 2011, for the major economies.
In the United States, growth fell to +0,5% from +0,8% at the end of 2010. Exports and inventory disposal (+0,4% and +0,3%) however definitely offset the negative contributions of investments and of public spending (respectively -0,2% and -0,1%) . Germany, on the other hand, is accelerating, standing at +1,5% after +0,4% in the last quarter of 2010. Investments have had a significant contribution to this growth (their contribution to the composition of the GDP is 0,9%) and the export network (0,5%).
In France, the GDP grew by 0,9% (+0,3% compared to the last fraction of 2010), this dynamic growth, observes the OECD, is mainly linked to the rebuilding of stocks (0,7%).
As expected, Japanese economic growth continues to be negative, which continues to discount the consequences of the March 11 disaster. The GDP is at -0,9% (in December 2010 it was at -0,7%). The only positive note, according to the OECD, in the dramatic situation of the nation of the Rising Sun, is public spending which is fixed at +0,2%, but private consumption and inventories remain heavy (respectively at -0,3% and - 0,4%).
