Monday, November 23, 2009

OECD Countries Emerge From Recession

From the WSJ:

The world's developed economies emerged from recession in the third quarter, as their combined gross domestic product grew for the first time since the first three months of 2008.

Figures released Monday by the Organization for Economic Cooperation and Development showed economic output in its 30 members during the three months to September was 0.8% higher than in the second quarter, although it was 3.3% lower in annual terms.

The OECD said the combined GDP of the Group of Seven largest developed economies rose 0.7% from the second quarter, but was also down 3.3% from a year earlier.