OECD Reports G7 Economic Expansion Slows to 0.3% in Second Quarter

Deep News08-25

The Organisation for Economic Co-operation and Development released preliminary figures on Monday showing that GDP across its member economies expanded by 0.5% quarter-on-quarter in the April-to-June period, a modest acceleration from the 0.4% growth recorded in the first three months of the year.

However, the pace of expansion among the Group of Seven nations cooled during the same stretch, with collective GDP rising just 0.3% in the second quarter, down from the 0.4% uptick seen in the prior quarter.

Five of the seven G7 economies—Germany, Italy, Japan, the United Kingdom, and the United States—posted slower growth during the period. Germany and Italy each recorded quarter-on-quarter GDP gains of 0.2%, Japan expanded by 0.3%, while the UK and US both grew by 0.4%.

Canada bucked the trend, with growth climbing from a flat reading in the first quarter to 0.8% in the second. France also reversed course, swinging from a 0.1% contraction in Q1 to a 0.2% expansion in Q2.

Among the 30 OECD members with available data for the quarter, 27 recorded positive GDP growth on a quarterly basis, while three remained unchanged. Year-on-year, OECD-wide GDP rose 2.3% in the second quarter, up from the 1.7% pace observed in the first quarter.

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