OECD GDP returns to pre-crisis level in third quarter

Gross Domestic Production (Start) from Organization for Economic Cooperation and Development exceeded in Third quarter The level prior to the outbreak of the Covid-19 crisis in early 2020, although its rate of progress slows down in the summer months.

The Organization for economic cooperation and development The Organization for Economic Co-operation and Development (OECD) announced in a statement that the gross domestic product of member states as a whole rose 0.9 percent in the third quarter after increasing by 1.7 percent in the second quarter.

This means that the GDP between July and September was a 0.5 percent higher to me The last quarter of 2019, before noting the first effects of the crisis, although the situation is unequal within the organization.

United State It stood out because it broadly exceeded the pre-crisis level (1.4 percent), in contrast to the decline that continued to accumulate European Union (-0.2 percent), the Euro-zone (-0.5%) and more United kingdom (-2.1 percent) and Japan (-2.2 percent).

Among the G7 countries, the quarterly activity development was particularly evident between July and September in France (3 percent) and in Italy (2.6 percent), as well as in the eurozone as a whole (2.2 percent) and in the European Union (2.1 percent).

The increase was less pronounced in the United Kingdom (1.3%) and the United States (0.5%). In Japan there was a decrease of 0.8 percent.

On an annual basis, production grew 4.5 percent in the OECD, an increase to which the United Kingdom (6.6 percent) and the United States (4.9 percent) contributed in particular.

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The increase was less sharp in the European Union (3.9 percent) and the eurozone (3.7 percent), as well as in Japan (1.3 percent).

With information from EFE

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