The GDP of the OECD area remained below pre-pandemic levels, despite an acceleration in growth in the second quarter of 2021, to 1.6% against 0.6% in the previous quarter: this is what emerges from the provisional estimates released by the OECD.
For the seven major economies as a whole, the Paris-based organization for international economic development and cooperation specifies, growth has gone from 0.4% to 1.6%, but with strong disparities from one country to another. 'other.
The UK recorded the strongest growth (4.8% versus at least 1.6% in the previous quarter), followed by Italy (2.7% versus 0.2% in the previous quarter). GDP is also increasing among the other big names in the world economy, but to a lesser extent than in the United Kingdom and Italy. In the United States as in Germany, growth increased by 1.6% versus 1.5% and -2% respectively in the previous quarter. In France and Japan, the Gross Domestic Product grew by 0.9% and 0.3% respectively, after 0% and -0.9% in the previous quarter. In the euro area and the European Union, the figure turned positive, 2% and 1.9% respectively, after decreases of -0.3% and -0.1% in the previous quarter.
If we compare economic activity in the second quarter of 2021 with pre-pandemic levels (fourth quarter 2019), GDP remains 0.7 percentage points lower in the OECD area. Among the seven major economies, the United Kingdom sees the most significant gap (-4.4%), followed by Italy (-3.8%), France and Germany (both -3.3%). The United States, in the second quarter, is the only major economy to have already returned to pre-pandemic levels, with GDP exceeding pre-pandemic levels by 0.8 points.