OECD area GDP bounces back in 3rd quarter

By Aysu Bicer

ANKARA (AA) - The gross domestic product (GDP) in the Organization for Economic Co-operation and Development (OECD) area rebounded by 9.0% in the third quarter of 2020, the group said on Thursday.

However, the GDP still remains 4.3% below its pre-crisis level, it noted.

Among the major seven economies, France , Italy , and the UK recovered the most, with 18.2%, 16.1%, and 15.5%, respectively.

The three countries had also seen the sharpest falls in the second quarter.

The GDP also rebounded in other big economies such as in Canada by 10%, Germany by 8.2%, Japan by 5%, and the US by 7.4%.

Meanwhile, the GDP in the EU increased by 11.6%, following a contraction of 11.4% in the previous quarter.​