HE growth the middle 38 countries Members of the Organization for Economic Co-operation and Development (OECD) slowed down “a little” in the second trimester. Thus, the GDP increased 0.4% Compared to the previous quarter between April and June, the growth between January and March was below 0.5%. “This expands consistency moderate growth model The Paris-based institution stated that it has been observed since the first quarter of 2022.
With 0.4 percent growth Spain Stop in the middlebecame the organization’s thirteenth higher-growing member. OECD stressed that the association is the country of “We are most seriously affected” with Pandemic (with a GDP contraction of 11.3% in 2020) and managed to exceed pre-illness GDP in 2020 (end of 2019). second quarter of this year. In June it was noted that this happened on the first, but the review at the end of July postponed it to the second.
The organization chaired by the Belgium-Australia partnership Mathias Corman emphasized that: G7 growth in the second trimester be well, get better from 0.4% of the first 0.5%. However, the performance of the world’s seven largest advanced economies “mixed”. Thus, GDP increased significantly. Japan (from 0.9% to 1.5% in the first quarter) and France (0.1% to 0.5%), in both cases export more than compensated for the contraction in private consumption.
pre-pandemic level
Growth also accelerated, albeit in a “more marginal” way. United States of America through investment and private consumption (from 0.5% to 0.6%) and United Kingdom thanks to public and private spending (from 0.1% to 0.2%). Instead, contract activity Italy slowed down (from 0.6% to -0.3%) due to reduced domestic demand Canada (0.8% to 0.3%) and remained the same Germany exports fell after falling in the previous two quarters (-0.4% and -0.1%).
Between nearby countries UkraineGDP ‘strong’ rebounded Lithuania (2.8% after falling 2.1% in the first quarter). On the contrary, it contracted “hard”. Poland (from 3.8% to -3.7%). He also continued the contract Hungary (-0.3%) for the fourth quarter in a row. In the OECD as a whole, Ireland recorded the highest GDP growth (3.3%) and followed it. Slovenia (1.4%) and Costa Rica (1.3%). On the contrary, activity contracted in ten countries, mainly in Poland (-3.7%). Sweden (-1.5%) and Colombia (-%one).
GDP in the OECD area exceeded its own level pre-pandemic (4th quarter of 2019) increased by 5.1% in the second quarter of 2023. It surpassed that by 4% in the G7, but in the second quarter of 2023 United Kingdom still a little under. In the rest of the OECD, GDP was above the levels in the fourth quarter of 2019 in all countries for which data is available. Czech Republic.