Despite the OECD correcting their growth forecast down this May
, some industrialized nations have exceeded growth expectations in the first quarter of 2019.
Italy fared a little better than expected, growing by 0.2 percent in Q1, higher than the 0.1 percent forecasted. The country accused forecasters of bias towards them.
Japan's economy grew 0.5 percent in the first quarter of 2019 compared to Q4 2018, despite being forecast to contract by 0.1 percent.
If the country continues to progress at the rate that it does now, it would arrive at an annual growth of (seasonally adjusted) 2.1 percent, a respectable figure amidst the current global economic slowdown.
Yet, weak domestic demand made exports look better than they were for Japan, causing worry that a recession is still ahead.
South Korea’s economy contracted unexpectedly but is expected to pick up again in the second quarter. Most other industrialized nations in the OECD more or less met their - albeit small - growth goals, at least according the the last predictions before the first results.