Global economy

GDP Growth - Second quarter of 2023, OECD

23/08/2023 PNG

OECD GDP now up 5.1% since pre-pandemic as pace of growth moderates in Q2 2023

Q2 2023 gross domestic product (GDP) in the OECD area exceeded its last pre-pandemic level (Q4 2019) by 5.1%, according to latest data. For G7 economies, GDP was 4.0% higher, ranging from 6.2% in the US to -0.2% in the UK. Among other OECD countries, all economies except the Czech Republic have surpassed Q4 2019 levels.

Quarter-on-quarter GDP growth in the OECD slowed to 0.4%, from 0.5% registered the previous quarter. While Lithuania recovered strongly (2.8% vs. -2.1% in Q1 2023), Poland saw the reverse (-3.7% vs. 3.8% in Q1 2023).

Read more: GDP growth in Q2 2023 (press release)