OECD region sees weak GDP growth rate in Q4

ISTANBUL

The Organization for Economic Co-operation and Development (OECD) region posted a weak growth rate in the last quarter of 2022.

After rates of 4.3%, 3.3%, and 2.5% during the first three quarters of 2022, the OECD posted a growth rate of 1.1% in the last quarter.

The rate was at 1.8% for the EU, 1.9% for the euro area, and 1% for G7 countries, the OECD report showed.

Among G7, Canada saw the highest GDP growth rate with 2.6%, followed by Italy with 1.7%, and Germany with 1.1%.

In the whole year, the OECD region's GDP growth rate was at 2.9% in 2022 -- 3.6% for the EU, 3.5% for the eurozone, and 2.3% for G7.

The UK posted the highest rate with 4%, while Italy (3.8%) and Canada (3.6%) followed it.