Gross domestic product (GDP) in the OECD area rose by 0.9% in the third quarter of 2007, higher than in the previous quarter, according to preliminary estimates.

In the United States GDP grew by 1.0% in the third quarter of 2007, higher than in the previous quarter. Japan’s GDP rose by 0.6%, in contrast to the decline in the previous quarter (-0.4%). GDP in the euro area rose by 0.7%, up from 0.3% in the previous quarter.

Among the Major Seven countries GDP growth in the third quarter of 2007 ranged from 0.4% in Italy to 1.0% in the United States.

Annual growth (the third quarter of 2007 compared with the third quarter of 2006) was highest in the United Kingdom (3.3%) and lowest in Italy (1.9%). In France, Italy, Japan, the United Kingdom and the United States, the annual growth rate was higher than in the previous quarter. In Germany it remained stable.

The United States contributed 0.9 percentage point to the total OECD growth of 2.9% between the third quarter of 2006 and the third quarter of 2007. Japan contributed 0.2, the euro area (12 countries) 0.7, and the other countries 1.0 percentage point.