Gross domestic product (GDP) in the OECD area rose by 0.6% in the second quarter of 2007, the same rate as in the previous quarter, according to preliminary estimates.

In the United States GDP grew by 0.8% in the second quarter of 2007, the highest growth rate observed since the first quarter of 2006. Japan’s GDP rose by 0.1%, considerably less than the 0.8% growth recorded in the previous quarter. GDP in the euro area rose by 0.3%, down from 0.7% in the previous quarter.

Among the Major Seven countries GDP growth in the second quarter of 2007 ranged from 0.1% in Italy and Japan to 0.8% in the United Kingdom and the United States.

Annual growth (the second quarter of 2007 compared with the second quarter of 2006) was highest in the United Kingdom (3.0%) and lowest in France (1.3%). In the United States, the annual growth rate was higher than in the previous quarter. In France, Germany, Italy and Japan, it was lower. In the United Kingdom it remained stable.

The United States contributed 0.6 percentage point to the total OECD growth of 2.5% between the second quarter of 2006 and the second quarter of 2007. Japan contributed 0.3, the euro area (12 countries) 0.7, and the other countries 0.9 percentage point.