OECD Raises Second Quarter Growth Estimate

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The Organization for Economic Cooperation and Development upped its estimate for second quarter economic growth among its 33 member nations on signs that investment rose.

Gross domestic products in OECD countries increased by an average of 0.9% in the three months through June, the organization said, according to Bloomberg News. The OECD previously estimated second quarter growth of 0.7%.

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"Gross fixed investment was the main contributor to the GDP increase," the OECD said in a statement.

The figures showed a wide range of growth among OECD member nations. In the U.S., growth was 0.4%, while Germany posted an expansion of 2.2%, and the U.K. grew by 1.2%.



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