OECD Economies Grow by 2.5Pct in Q1

The world's developed economies have seen their first quarterly rise in gross domestic product on a year-on-year base, in the wake of five consecutive quarters' decline.

Figures released Monday by the Organization for Economic Cooperation and Development (OECD) showed that economic output in its 31 members was 2.5 higher than in the first quarter of 2009, a further sign that the global economy is in recovery.

Japanese economy grew by 1.2 percent year-on-year, leading the recovery. The U.S. and Germany economies followed with 2.5 percent and 1.5 percent respectively. The Britain economy, however, decreased by 0.2 percent, lagging behind.

The economies of EU grew by 0.5 percent and the euro zone by 0.3 percent.