The economic performance of OECD member countries plummeted in the second quarter

By: Trademagazin editor Date: 2020. 08. 26. 11:08
Due to the measures against the new coronavirus pandemic an unprecedented decline occured in the economic performance of the 37 member states of the Organization for Economic Co-operation and Development (OECD) in the second quarter.

According to a report by the Paris-based intergovernmental organization published on Wednesday, gross domestic product (GDP) in OECD member countries fell by 9.8 percent in April-June, compared to the previous quarter. It is the worst figure since the data collection began.

The previous record was measured at the peak of the global financial and economic crisis in the first quarter of 2009, but even then the economic performance of OECD member countries fell by only 2.3 percent. (MTI)

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