Spain’s GDP is the fourth worst economy in the OECD as of September

Despite the socialist government’s great boast that our country is leading the recovery compared to our European counterparts, Spain It is at the bottom of the economic growth of the western world. According to OECD data, the annual increase in gross domestic product In the third quarter of 2021, it was the fourth lowest member state of this organization, which once again highlights the management Pedro Sanchez.

Spain saw a year-on-year increase in GDP of 2.67%, a figure more than a percentage point lower than the average in European Union. countries like Italy NS Portugal They have seen much more significant economic growth, with GDP growing year-on-year at nearly 4%. However, it is compared to Greece – one of the countries most exposed during periods of economic downturn – when Spain’s GDP is clear: its annual growth is 16.2%, which is eight times more than Spain.

Two of the major economic forces around the world, such as China And United State, They have also shown great progress in their economy, despite the various problems they face: both regions have annual GDP growth close to 5%. Another sign that Pedro Sanchez’s government does not favor economic activity is the comparison with the countries that make up the Group of Twenty, whose economy has grown by an average of 12%, four times more than Spain.

For the third quarter, the GDP of OECD countries was 0.5% above the level recorded in the fourth quarter of 2019, exceeding for the first time the level of activity recorded before the pandemic COVID-19. The think tank Among the developed countries attributed this achievement to the strong performance shown by the economies of the United States, South Korea and Israel, in addition to the remarkable recovery in the gross domestic product of some European countries.

However, in the period between June and September, the growth of the economy Organization for Economic Cooperation and Development It slowed compared to the previous three months, posting a 0.9% expansion, compared to 1.7% growth in the second quarter. Among the OECD economies for which data is available, the largest expansion of GDP in the third quarter was in Austriaup 3.3% over Franceby 3% and PortugalWith 2.9% while Japan And Mexico Contractions were recorded in GDP, with quarterly declines of 0.8% and 0.2%, respectively.

In the case of the bloc’s major economies, US GDP growth slowed in the third quarter to 0.5% from 1.6% in the second quarter, marking the weakest expansion since the third quarter. seem. On the other hand, Eurozone GDP growth accelerated to 2.2% between July and September, a tenth of the second quarter, while UK GDP slowed to 1.3% after rebounding by 5.5% between April. and june.