Paris, France – In the Organisation for Economic Co-operation and Development (OECD) region, growth data for the second quarter of the year was announced. Accordingly, the contraction in the OECD region, from 1.8 percent in the first quarter of this year, increased to 9.8 percent in the second quarter. The fall was the highest recorded in the OECD region.

Compared to the first quarter of this year, the growth rate in the second quarter fell from minus 1.3 percent to minus 9.5 percent in the United States, minus 2 percent to minus 9.7 percent in Germany and minus 5.9 percent to minus 13.8 percent in France, according to provisional data. Growth in Italy, which was minus 5.4 percent in the first quarter of the year, fell to minus 12.4 percent in the second quarter, and in Japan, growth was down from minus 0.6 percent to minus 7.8 percent.

Growth in the European Union (EU) declined from minus 3.2 per cent to minus 11.7 per cent and in the eurozone from 3.6 per cent to minus 12.1 per cent in the said period. Monday, August 31, Turkey’s second-quarter GDP data will be announced by the TurkStat. The median forecast of economists surveyed by forex is that there will be a 10.7 per cent contraction.