OECD GDP Grows by 0.1 Percent in Early 2025
(MENAFN) The GDP of the Organization for Economic Cooperation and Development (OECD) grew by just 0.1% in the first quarter of 2025, a sharp slowdown from 0.5% in the previous quarter.
This marks a shift from the higher and relatively stable growth seen in the OECD area over the past two years, according to a press release from the organization on Thursday.
The G7 nations also experienced a dip in growth, with their GDP slowing from 0.4% to 0.1% in the January-March period.
Japan's economy contracted by 0.2% in the first quarter, down from 0.6% growth in the previous quarter, due to a 2.4% rise in imports.
In the United States, GDP shrank from 0.6% to -0.1%, largely due to a sharp 10.8% increase in imports during Q1.
"The rise in US imports of goods, likely influenced by anticipated changes to trade tariffs, was the main drag on growth," the report stated.
Canada's growth also slowed, dropping to 0.4% from 0.6%.
However, the UK saw a slight acceleration in GDP growth, rising to 0.7% from 0.1%, driven by increased investments.
Among other OECD countries, Slovenia saw the steepest decline in GDP at -0.8%, followed by Portugal with -0.5%.
On the flip side, Ireland posted the strongest growth, with a 3.2% increase in GDP.
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