OECD GDP growth slows in first quarter of 2015. - Growth of real gross domestic product (GDP) in the OECD area slowed to 0.3% in the first quarter of 2015, down from 0.5% in the fourth quarter of 2014, according to provisional OECD estimates published on Tuesday 26 May. Of the major seven economies, growth slowed most significantly in the United States (to 0.1%) and in Germany (to 0.3%), down from 0.5% and 0.7% respectively in the fourth quarter of 2014. Growth also decelerated in the United Kingdom, to 0.3%, down from 0.6% in the previous quarter. On the other hand, GDP growth picked up strongly, to 0.6%, in the first quarter of 2015 in France, following flat growth in the previous quarter. In Japan, GDP growth also accelerated to 0.6%, up from 0.3% in the previous quarter. In Italy, real GDP grew (by 0.3%) for the first time since the third quarter of 2013. In the European Union, GDP growth was stable at 0.4% in the first quarter of 2015, while the euro area continued to show marginal improvements (0.4%, up from 0.2% and 0.3%, respectively, in the third and fourth quarters of 2014). (Isabelle Lamberty)