Gross Domestic Product (GDP) growth in the world’s largest economies slowed in the last quarter, with the United States contracting for the first time since the pandemic.
The latest figures from the OECD show GDP in the G20 countries rose by 0.8 percent in the first quarter of 2025, slightly down from 0.9 percent in the previous quarter.
A statement from the global economic organisation said the picture was mixed among G20 countries.
“In Korea and the United States, GDP contracted, by respectively 0.2 percent and 0.1 percent in Q1 2025, following growth of 0.1 percent and 0.6 percent in the previous quarter,” it stated.
The contraction in the United Stated was the first since 2020, during the height of the Covid-19 pandemic.
The OECD stated growth slowed sharply in Türkiye and Japan, dropping from 1.7 percent to one percent and from 0.6 percent to 0.0 percent, respectively.
“More moderate slowdowns were observed in China (from 1.6 percent to 1.2 percent), Australia (from 0.6 percent to 0.2 percent), South Africa (from 0.4 percent to 0.1 percent), and Indonesia (from 1.2 percent to 1.1 percent). Growth remained stable in Canada at 0.5 percent.”
It stated the remaining G20 countries experienced higher growth in Q1 2025 compared to the previous quarter, with Brazil recording a substantial acceleration, rising from 0.1 percent to 1.4 percent.
“The United Kingdom saw a notable improvement, with GDP growth increasing from 0.1 percent to 0.7 percent.”
