Il -0,8% in GDP recorded by Italy in the second half marked the worst performance among the G20 countries, advanced and emerging countries, according to OECD data. And the OECD also communicated the numbers of the forecast economic super-index, which marks one new contraction for the whole area and also for Italy, affected, however, to a lesser extent by the decline.
Speaking of GDP, in the second quarter, in the G20 countries, growth showed a slight slowdown, settling at +0,6% against +0,7% in the first quarter. On an annual basis, however, the positive change was 3%. There are two countries in decline: Italy, as mentioned, and Great Britain which records -0,5%.
For Italy, this is the fourth consecutive quarter of contraction, which produces a further decline in growth dynamics on an annual basis, went from -1,5% in the first quarter to the current -2,6%. The Italian figure, combined with the weak figure of France (zero growth) and Germany (+0,3%), caused the Eurozone to drop by -0,2%.
But the non-European economies are also slowing down. In fact, US growth weakens, with a +0,4% in the quarter and a 2,3% YoY expansion, against that of 2,4% in the previous quarter. China, India and Brazil also continue to grow, but at a slower pace than in the past.
Returning to superindex, the Composite leading indicators (Cli), in July scored the third consecutive contraction for the entire OECD area, with a -0,05 percent while on an annual basis there is a -0,14 percent. All countries were down except Great Britain, while the sharpest decline was in Germany (-0,25% on a monthly basis and -2,09 on an annual basis). For Italy -0,06% on a monthly basis and -1,43% compared to the same period of the previous year and there have been attempts to recover but with a basic trend that remains close to slowing down.
