G7 economy in its worst state is exposed
Date
8/13/2022 6:17:29 AM
(MENAFN) According to the most recent statistics from the UK Office of National Statistics (ONS), the US economy had the weakest performance among the Group of Seven most developed Western nations in the second quarter of 2022.
The G7 comparison was issued by the ONS along with news that the British economy shrank by 0.1% from April to June. The results show that over the same time, the American economy shrank by 0.2%.
The economy of Canada apparently performed the best, expanding by 1.1%. While Germany's economy stalled, so did that of Italy and France.
A FactSet Economics analyst poll predicts that Japan, a G7 country, will announce its GDP figures on Monday, with growth of 0.8% quarterly or 2.5% annually.
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