The gross domestic product (GDP) of the Organization for Economic Cooperation and Development (OECD) grew by 0.3 percent in the second quarter of 2022, in line with the expansion observed in the first three months of the year. the ‘think tank’ of advanced economies.
In this way, OECD’s GDP in the second quarter of 2022 was 1.5% above the level reached in the fourth quarter of 2019, the last full quarter before the Covid-19 pandemic.
Highest GDP growth in the second quarter among OECD countries Holland (2.6%), ahead Israel (1.7%), Sweden (1.4%) and Spain (1.1%), the worst data Poland (-23%), Latvia (-1.4%) and Lithuania (-0.4%).
After the recession observed between January and March, G20 countries recorded a GDP growth of 0.2% in the second quarter despite the contraction of the USA (-0.1%) and the United Kingdom (-0.1%).
Germany managed to grow 0.1% in the second quarter, while GDP growth in Japan and France reached 0.5%, while Italy and Canada accelerated to 1% and 1.1%, respectively.
In this way, the economy of the G7 countries was 1.6% above the level recorded in the fourth quarter of 2019, with all member countries equal to or exceeding their pre-pandemic activity levels.
Specifically, the United States and Canada recorded higher GDP levels of 2.6% and 1.9%, respectively, while France and Italy were 1% higher; While it was 0.6% in the UK and 0.2% in Japan, Germany managed to catch up with the pre-pandemic activity level.