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HomeLatest NewsThe OECD warns of an economic slowdown in developed countries until June

The OECD warns of an economic slowdown in developed countries until June

Date: June 16, 2024 Time: 02:52:05

It was the main objective of the largest Western central banks and they are achieving it with a sharp rise in interest rates that seeks to tackle inflation once and for all by cooling activity as much as possible. The economy of the most developed countries put the brakes on between April and June and barely grew 0.4% quarterly compared to the 0.5% it had done in the previous period, as announced on Tuesday by the club that groups them, the Organization for Economic Cooperation and Development (OECD).

The organization led by Mathias Cormann points out that, in year-on-year terms, the bloc’s economy will also slow down by one tenth in the second quarter to 1.5%, although it emphasizes that the economic situation is very heterogeneous between countries. So much so that, for example, the United Kingdom (sixth largest economy on the planet) and the Czech Republic still remained below the level of GDP prior to the Covid pandemic between April and June.

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Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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