OECD GDP grew by 0.3% in the second quarter

MADRID, 29 Ago. (EUROPA PRESS) -

The gross domestic product (GDP) of the Organization for Economic Cooperation and Development (OECD) grew by 0.3% in the second quarter of 2022, in line with the expansion observed in the first three months of the year, according to data published by the 'think tank' of advanced economies.

In this way, the GDP of the OECD stood in the second quarter of 2022 at 1.5% above the level reached in the fourth quarter of 2019, the last full quarter before the Covid-19 pandemic.

Among OECD countries, the highest GDP growth in the second quarter corresponded to the Netherlands (2.6%), ahead of Israel (1.7%), Sweden (1.4%) and Spain (1. 1%), while the worst data was observed in Poland (-2.3%), Latvia (-1.4%) and Lithuania (-0.4%).

The G20 countries registered a GDP expansion of 0.2% in the second quarter, after the stagnation observed between January and March, despite the contraction suffered by the United States (-0.1%) and the United Kingdom (-0 ,1%).

On its side, Germany managed to grow 0.1% in the second quarter, while in Japan and France, GDP increases reached 0.5%, and in Italy and Canada they accelerated to 1% and 1.1 %, respectively.

In this way, the economy of the G7 countries stood 1.6% above the level registered in the fourth quarter of 2019 with all member countries having equaled or exceeded the levels of activity prior to the pandemic.

Specifically, the United States and Canada registered GDP levels that were 2.6% and 1.9% higher, respectively, while in France and Italy it was 1% higher; 0.6% in the UK and 0.2% in Japan, while Germany managed to match the pre-pandemic level of activity.