A Synchronized Slowdown in Developed Economies

Which of the following nations recorded the strongest economic growth in the second quarter? France, Germany, Italy, Japan, or the United States?

This nice chart from today’s Wall Street Journal provides the answer (click for larger version):

The U.S. expanded at a tepid 1.3% annual pace in Q2, but that was still better than many other developed economies. Italy grew at a 1% pace, Germany at 0.5%, and France at 0.0%. And then there’s Japan, which contracted at a 1.3% pace.

The chart also nicely illustrates just how sharp the GDP declines were in late 2008 and early 2009.  Both Germany and Japan, for example, had quarters in which economic activity contracted at a 15% annual pace or more. By contrast, the worst U.S. quarter saw declines at “only” a 8.9% pace.

One thought on “A Synchronized Slowdown in Developed Economies”

  1. an alarming title- maybe reality a little less alarming because
    1 Other emerging worlld which is biggernow ok
    2 and canada aussie ok
    3 japan ok going forward
    4opec has a lot of money
    the US and europe still have half broke finance and desperate measures to counteract.
    but strong europe companies and exporters good because the Euro weak?
    just desperately tryin to take the other side of a global recession now

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