OECD GDP growth slows to 0.7% in the fourth quarter of 2020, with year-on-year falls for almost all countries
OECD For the M ajor Seven economies as a whole, GDP growth slowed to 0.8% in the fourth quarter of 2020, with quite divergent patterns across countries. GDP growth remained positive in Japan (3.0%), Germany (0.1%). In the other Major Seven economies, Italy and France, GDP fell (minus 2.0% and minus 1.3%, respectively), after strong rebounds in the previous quarter (16.0% and 18.5%, respectively). In the euro area and the European Union, GDP contracted in the fourth quarter of 2020 by (minus) 0.6% and (minus) 0.4% respectively, following rebounds of 12.4% and 11.5% in the previous quarter.