OECD GDP Growth — Macro Event

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OECD GDP grew 0.4% QoQ in Q2 2025 (prev 0.2%), while G7 GDP also accelerated to 0.4% QoQ (prev 0.1%), with country-level growth showing mixed patterns.
- US GDP rebounded +0.7% QoQ (prev –0.1%), supported by a sharp –10.3% drop in imports after an 11.0% surge in Q1, though inventory drawdowns offset some gains.
- France and Japan both improved modestly, with GDP rising to 0.3% QoQ (prev 0.1%).
- UK growth slowed to 0.3% QoQ (prev 0.7%), weighed by –1.1% investment contraction (prev +2.0%).
- Germany (–0.3% QoQ, prev +0.3%) and Italy (–0.1% QoQ, prev +0.3%) both contracted, with German exports falling –0.6% after +3.0% in Q1.
- Outside the G7, Ireland saw a sharp slowdown (–1.0% QoQ, prev +7.4%) while Denmark swung to +1.3% QoQ (prev –1.3%).
- OECD GDP growth held steady at 1.7% YoY, with the US at +2.0% YoY (unchanged) and Germany the weakest at +0.2% YoY.
Source
OECD GDP growth in Q1 2025 was just 0.1% QoQ, a sharp slowdown from 0.5% QoQ in Q4 2024.
- Growth in the G7 economies slowed from 0.4% QoQ in Q4 2024 to 0.1% QoQ in Q1 2025 as Japan and the US both saw negative growth to start the year.
- On an annual basis, OECD growth was 1.6% YoY (prev 1.9% YoY) and G7 growth was 1.5% YoY (prev 1.8% YoY).
- Among other OECD economies for which data is available, 17 countries experienced slowdowns in growth in Q1 2025 compared with Q4 2024, resulting in negative growth in four countries.
Source
Gross domestic product (GDP) in the OECD rose by 0.3% in the fourth quarter of 2024, slightly down from 0.5% in the previous quarter, according to provisional estimates. Quarterly OECD GDP growth rates have remained relatively stable over the past two years.

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