Spain outpaces the ‘big boys’: its GDP is growing faster than the average for the G7, OECD, eurozone and US
:quality(85)/cloudfront-us-east-1.images.arcpublishing.com/infobae/N262LGLHBFHDNKM757CCZ77Z5Q.jpg "Spain outpaces the ‘big boys’: its GDP is growing faster than the average for the G7, OECD, eurozone and US")
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He Gross Domestic Product (GDP) of Spain is growing at a faster rate than the world’s largest economies, 0.8% in the second quarter years compared to the previous one and above 0.5% which increased the share of the group of countries in Organisation for Economic Co-operation and Development (OECD) and from G7 and from 0.3% average value European Union and countries Eurozoneaccording to data released Thursday by the OECD.
The report highlights that while overall OECD GDP growth remained unchanged in the second quarter, among OECD economies G7 activity grew faster from May to June – 0.5% compared to 0.2% in the first quarter.
Among the countries with the highest economic growth, Japan, with increase 0.8%as in Spain, after a 0.6% contraction in the first quarter. Another country that posted good figures was USAwhose economy grew by 0.7% in the second quarter, compared with 0.4% in the first three months of the year.
As for Eurozone and EU economiesIn the second quarter of 2024, growth remained stable in 0.3%. The numbers are worse than average. Germanywhose economy decreased -0.1% in the April-June period after growing by 0.2% in the first quarter of the year.
“Growth also slowed a little in Italy and the United Kingdomuntil 0.2% and 0.6% respectively, compared with 0.3% and 0.7% in the first quarter,” the OECD said.
The report notes that “of the other OECD countries for which data are available, more than half performed worse in the second quarter than in the first.” Highlights strengths Israel’s growth slowdownwith GDP growth 0.3%after 4.1% in the first quarter, while Chile suffered 0.6% reduction after growing 2.1% in the first quarter.
In the OECD as a whole, countries that showed further growth in the period from April to June were Poland (1.5%)Costa Rica and Ireland (1.2% in both countries) and the Netherlands (1%). While worst the records were signed Latvia (-1.1%)behind Sweden (-0.8%), Chile (-0.6%) and Colombia (-0.1%).