23 Aug 2011

Economic growth slows - OECD

6:05 am on 23 August 2011

Growth in leading world economies has slowed for the fourth consecutive quarter.

The output of the 33 countries in the Organisation for Economic Cooperation and Development grew 0.2% in the three months to June. The rate for the previous three months was 0.3%.

The organisation says the slowdown is particularly marked in the euro zone and the European Union.

OECD economies grew 1.6% in the second quarter a year earlier.

According to the OECD, Germany slowed to 0.3% in the second quarter from 1.3% in the first and France stalled at zero growth after 0.9%. Britain slowed to 0.2% from 0.5%.