Gross domestic product (GDP) in the OECD area rose by 0.7% in the first quarter of 2010, the fourth consecutive quarter of growth for the area.

Strong GDP growth continued in the United States (0.8%) and Japan (1.2%). GDP growth was more subdued in both the Euro area and the European Union (0.2%). Italy returned to positive GDP growth in the first quarter of this year (0.5%), after the small decline of the previous quarter, while the pace of the recovery eased in both France and the United Kingdom and was unchanged in Germany.

Relative to a year earlier, GDP in the OECD area returned to positive growth (2.5%) after five consecutive quarters of contraction. With the exception of the United Kingdom (where GDP was 0.2% lower than a year earlier), GDP was above the level recorded in the previous year in all other major OECD economies, with a large rebound in the case of Japan (4.2%).