PARIS, March 17: Economic growth among the 30 members of the OECD slowed markedly in the fourth quarter of 2002, while showing some strength on an annual basis, the group said Monday, citing preliminary data.

The Organization for Economic Cooperation and Development said in a statement the overall GDP increased by 0.4 per cent in the last quarter of 2002, following an increase of 0.8 per cent in the previous quarter.

“Overall quarterly growth in the OECD area slowed down to 0.4 per cent in the fourth quarter of 2002 compared to the growth registered in the preceding quarter (0.8pc), the statement said.

“Annual growth, however, was slightly stronger (2.6 per cent) than in the third quarter of 2002 (2.4 per cent),” it added.

In the United States, growth fell to 0.4 per cent in the fourth quarter from the third, and to 2.9pc on a 12-month basis from 3.3pc in the previous quarter.—AFP