G20 GDP rises 0.7% in the first quarter compared to the fourth quarter of 2021, according to the Organization for Economic Co-operation and Development – 06/14/2022

The Organization for Economic Co-operation and Development (OECD) said the Group of Twenty’s gross domestic product rose 0.7% in the first quarter of this year, compared to the previous quarter. In the fourth quarter of 2021, the increase was 1.3% compared to the previous quarter, so the picture is one of slowdown.

The OECD said, in a statement, that the loss of breath is mainly due to the poor performance of the United States, with gross domestic product contracting 0.4% in the first quarter, after an increase of 1.7% in the fourth quarter.

In Australia and Indonesia, there was also a more severe slowdown, with less loss of breath in Canada, China, India, Italy, South Korea, Turkey and the United Kingdom.

The contraction in France and Japan was 0.2% and 0.1%, respectively.

Despite the trend of the G-20 as a whole, some countries, such as Brazil, Germany, Mexico, Saudi Arabia and South Africa, as well as the European Union as a whole, achieved higher growth in the first quarter of 2022 than in the fourth quarter. quarter of 2021, according to the Organization for Economic Co-operation and Development.

The statement said that Saudi Arabia grew 2.6 percent from the previous quarter in the first quarter, the highest result among the G20 economies, driven by the oil sector.