Economic growth rebounded in the second quarter, according to new data from the Organisation for Economic Cooperation and Development (OECD).
The Paris-based group reported that provisional estimates point to GDP growth of 0.4% for OECD countries in the second quarter, up from 0.2% in the first quarter.
Despite the rebound, the annual GDP growth rate remained unchanged at 1.7% in the quarter, the OECD said.
For the G7 countries, GDP growth rose to 0.4% in the latest quarter, from 0.1% in the first three months of the year, the group noted.
The U.S. economy led the way, with quarterly GDP growth at 0.7% in Q2, following a 0.1% decline in the first quarter.
“The recovery was largely attributed to a sharp 10.3% decline in U.S. goods imports in Q2, following an 11% surge in Q1, likely influenced by anticipated changes to trade tariffs,” the OECD said.
Alongside the U.S., France and Japan also recorded growth in the second quarter, but “GDP growth came to a halt in Canada,” the OECD said.
The U.K. also saw growth slow, while output turned negative in Germany and Italy, it noted.
Across the rest of the OECD, the situation was mixed, with 13 of 23 reporting countries posting higher growth rates in the second quarter compared with the first.