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19 September 2020 The on-line newspaper devoted to the world of transports 10:40 GMT+2



August 26, 2020

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Original news
Real gross domestic product in the second quarter OECD area recorded an unprecedented drop of -9.8%

On a year-on-year basis, the contraction was -10.9%

In the second quarter of this year, following the introduction of Containment measures of the Covid-19 pandemic around the world as of March, the domestic product OECD, according to provisional estimates, recorded a unprecedented drop of -9.8% on the previous quarter. Making notes, the Organisation for Cooperation and Economic Development has shown that this is the biggest drop in OECD area and is significantly -2.3% in the first quarter of 2009 at the peak financial crisis.

Among the major seven economies, GDP fell -20.4% in the UK. In France, where - the OECD pointed out - the blockade measures were among the most gross domestic product fell by -13.8% after the end of the year. down -5.9% in the previous quarter.

In the second quarter of 2020, GDP fell Italy, Canada and Germany, respectively -12.4%, -12.0% and -9.7% vs. -5.4% respectively, -2.1% and -2.0% in the previous quarter.

In the United States, where many states - the OECD pointed out - at the late March have introduced council-based measures to "stay at home", the GDP contracted slightly less, with a -9.5%, compared to -1.3% in the previous quarter.

In Japan, where containment measures have been less GDP fell by -7.8% in the second quarter compared to -0.6% in the previous quarter.

In the euro area and in the European Union, domestic fell -12.1% and -11.7% respectively, compared with -3.6% and -3.2% in the previous quarter.

The OECD has specified that year-on-year the fall in GDP per OECD area in the second quarter of 2020 was -10.9% after a decrease of -0.9% in the previous quarter. Among the the largest seven economies, the United States has a annual growth of -9.5%, while the UK recorded its net annual decline (-21.7%).




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