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Economic growth - a weak outlook for OECD countries
Economic growth in developed economies remained weak in the second quarter of this year, as the war in Ukraine hampered output in many nations. The Organization for Economic Cooperation and Development (OECD) said the combined gross domestic product of its 38 members expanded by 0.3% in the second quarter over the first quarter, when it was also 0.3%. That’s well below the average quarterly growth rate of more than 1.2% last year. chart In the G7, quarter-on-quarter GDP growth increased 0.2% compared with zero growth in Q1 2022. The OECD said this reflected a mixed picture, with contractions seen in the US and ... (full story)