G20 Real GDP growth Slowed in Q4, said OECD
Mar 15th, 2016
Growth of real Gross Domestic Product (GDP) in the G20 area eased slightly to 0.7% in the fourth quarter of 2015, down from 0.8% in the four previous quarters, according to the Organisation for Economic Co-operation and Development (OECD) preliminary estimates.
Countries whose GDP growth slowed markedly include Korea South(to 0.6%, from 1.3% in the third quarter), Australia (to 0.6%, from 1.1% in the third quarter), Canada (to 0.2%, from 0.6% in the third quarter), Mexico (to 0.5%, from 0.8% in the third quarter) and Japan, where GDP contracted by 0.3% in the fourth quarter after an expansion of 0.3% in the third quarter.
GDP growth slowed marginally in China (to 1.6%, from 1.8%), the United States (to 0.3%, from 0.5%), India (to 1.7%, from 1.8%) and Italy (to 0.1%, from 0.2%).
Growth rates in France (0.3%), Germany (0.3%) and South Africa (0.2%) remain unchanged. Countries recorded marginal growth rate increase are Indonesia (to 1.3%, compared with 1.2% in the third quarter) and the United Kingdom (to 0.5%, compared with 0.4% in Q3).
GDP growth for the G20 area slowed to 3.0% in the fourth quarter of 2015, compared with 3.1% in the previous quarter, with India recording the highest growth rate (7.5%), followed by China (6.8%). Brazil recorded the lowest rate (minus 6.0%). The growth rate also slowed when compared with the same quarter of 2014.
For 2015 as a whole, annual GDP grew by 3.2% in the G20 area, compared with 3.3% in 2014.