Economic growth in the area of the Organization for Economic Cooperation and Development (OECD) increased in the first quarter to 0.6 percent on a quarterly basis, from 0.3 percent in the previous period. The OECD reported this on the basis of preliminary estimates.
The largest economies within the OECD experienced stronger growth in Germany, Italy, Great Britain and the United States. A modest increase in growth was seen in Japan, while growth remained stable in France. The OECD saw growth pick up for the eurozone and the European Union.
On an annual basis, growth in the OECD area amounted to 1.9 percent compared to 1.8 percent in the fourth quarter of 2018.