Gross domestic product (GDP) in the OECD area rose by 0.9% in the fourth quarter of 2006, up from 0.5% in the previous quarter, according to preliminary estimates.

In the United States GDP grew by 0.9% in the fourth quarter of 2006, somewhat higher than in the two previous quarters. Japan’s GDP rose by 1.2%, the highest growth rate observed since the first quarter of 2004. GDP in the euro area rose by 0.9%, up from the 0.5% growth recorded in the previous quarter.

Among the Major Seven* countries GDP growth in the fourth quarter of 2006 ranged from between 0.6% and 0.7% in France to 1.2% in Japan. With an increase of 1.1% Italy recorded the highest quarterly growth in seven years.

Annual growth (the fourth quarter of 2006 compared with the fourth quarter of 2005) was highest in Germany (3.7%) and lowest in France and Japan (2.3%). In all Major Seven countries, except Canada, for which no data are available, the annual growth rate was higher than in the previous quarter.

Country or area contributions to total OECD growth: the United States contributed 1.2 percentage points to the total OECD growth of 3.3% between the fourth quarter of 2005 and the fourth quarter of 2006. Japan contributed 0.3, the euro area 0.9, and the other countries 0.9 percentage point.