The Covid-19 pandemic keeps developed economies down
20 de noviembre de 2020, 3:32
Paris, Nov 20 (Prensa Latina) The Gross Domestic Product (GDP) of the Organization for Econonic Cooperation and Development (OECD) member countries increased by nine percent in the third quarter, but below what was achieved before the pandemic, the agency reported on Friday.
According to data published by the Organization for Economic Cooperation and Development (OECD) in a statement, taking into account the downturn registered in the first six months, it remained 4.3 percent below the level prior to declaring the Covid-19 pandemic in March, 2020.
The result of the third quarter is better than that registered in the second one when the economy of the OECD, which groups 37 countries, fell 11.7 percent due to the impact of the spread of the SARS-CoV-2 coronavirus.
Although for OECD analysts, these are signs of a reactivation of economic activity, in the European Union GDP decreased by 4.3 percent between July and September, and in the seven largest economies of the group (Canada, France, Germany, Italy, Japan, the United Kingdom and the United States) the decline was 4.2 percent.
However, the new isolation measures that different European countries have implemented in order to mitigate the outbreak of infections caused by SARS-Cov-2 could affect the performance of the economic recovery for the fourth quarter of this year.
The OECD is made up of Germany, Australia, Austria, Belgium, Canada, Chile, Colombia, South Korea, Denmark, Slovenia, Spain, United States, Estonia, Finland, France, Greece, Hungary, Ireland, Iceland, Israel, Italy, Japan, Latvia, Lithuania, Luxembourg, Mexico, Norway, New Zealand, Netherlands, Poland, Portugal, United Kingdom, Czech Republic, Slovak Republic, Sweden, Switzerland and Turkey.
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