(MENAFN) Gross domestic product (GDP) in the OECD was up 0.1 percent quarter-on-quarter in line with provisional approximations, a sharp slowdown against the 1.2 percent increase in the last quarter of last year, in accord with official figures.
According to an OECD declaration "In the G7, quarter-on-quarter GDP growth turned negative in Q1 2022, falling by 0.1 percent compared with an increase of 1.2 percent in Q4 2021."
The G7 data show negative GDP expansion in the US (minus 0.4 percent), Italy (minus 0.2 percent) and Japan (minus 0.2 percent), in addition to zero expansion in France and weaker positive expansion in the UK (0.8 percent) and Canada (1.4 percent) than in the third quarter.
Germany was the only G7 nation in which the speed of expansion enhanced with 0.2 percent in the first quarter of this year, in contrast with a reduction of 0.3 percent in the previous quarter.
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