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Output rises in OECD area

GDP in the 30-member OECD-area jumped by 0.8 per cent over the fourth quarter of last year, boosted by strong growth in the US and Asia. The Organisation for Economic Cooperation and Development said yesterday that output had risen 0.8 per cent compared to the third quarter, though it was 0.7 per cent lower year-on-year. The improvement came despite a sluggish performance from the eurozone, where the rate of growth slowed from 0.3 per cent in the third quarter to 0.1 per cent in the last three months of the year.