Economic growth in the OECD area decreased by 2012% in the fourth quarter of 0,2, thus marking a radical turnaround from the +0,3% recorded in the previous three months. On a trend basis, the decline was 0,7% (-1,2% in the third quarter). This was announced by the Organization itself, underlining that this is the first contraction in GDP since the collapse (-2,3%) suffered in the first quarter of 2009.
The decline was particularly heavy in the European Union (-0,5%) and, above all, in Germany (-0,6%), which experienced its first economic downturn since the beginning of 2009. A negative sign also in Great Britain and France (-0,3% for both), after the positive impulses recorded in the third quarter (respectively +0,9% and +0,1%). Bad for Italy, which extended the negative streak to six consecutive quarters and suffered the largest contraction (-0,9%) since the first three months of 2009.
