Independent journal on economy and transport policy
21:22 GMT+2
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In the first quarter of this year, the OECD's gross domestic product fell by -1.8% compared to the previous three months
Compared to the first quarter of 2019, the decrease was -0.8%. France and Italy recorded the biggest declines
May 26, 2020
Provisional estimates of the decline in GDP in the first quarter of this year, compiled by the OECD, they point out that among the main seven economies, gross domestic product has shrunk France and Italy, where blocking measures to contain the pandemic have been more stringent and implemented before other countries, with decreases of -5.8% respectively and -4.7%, compared to the previous quarter versus declines of -0.1% -0.3% recorded in the last quarter of 2019. In the first reductions in GDP in France and Italy compared to the quarter of 2020 at the same time last year were -5.4% and -4,8%.
In the first three months of this year, GDP fell Canada, Germany and the United Kingdom, with -2.6%, -2.2% and -2.0% quarter-year decreases (when the declines were -0.1%, -0.1% and 0.0%). In the United States, where many states have introduced blocking at the end of March, the contraction in GDP was less down -1.2% on the previous quarter (when the drop was -0.5%) and an increase of 0.2% on first quarter of 2019. In Japan, where containment have been less stringent, GDP has contracted 0.9% on the previous quarter (when the contraction had been -1.9%) 2.2% in the first quarter of 2019.
In the euro area and in the European Union, domestic fell by -3.8% and -3.3% respectively quarter (when growths of 0.1% were reported and 0.2%) -3.2% and -2.6% in the first quarter of last year Year.
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Provisional estimates of the decline in GDP in the first quarter of this year, compiled by the OECD, they point out that among the main seven economies, gross domestic product has shrunk France and Italy, where blocking measures to contain the pandemic have been more stringent and implemented before other countries, with decreases of -5.8% respectively and -4.7%, compared to the previous quarter versus declines of -0.1% -0.3% recorded in the last quarter of 2019. In the first reductions in GDP in France and Italy compared to the quarter of 2020 at the same time last year were -5.4% and -4,8%.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
