Slight easing in G20 GDP growth in fourth quarter of 2015
Growth of real Gross Domestic Product (GDP) in the G20 area eased slightly to 0.7% in the fourth quarter of 2015, down from a constant rate of 0.8% recorded in the four previous quarters, according to preliminary estimates.
GDP growth slowed markedly in Korea (to 0.6 %, compared with 1.3 % in the previous quarter), Australia (to 0.6 %, from 1.1 %), Canada (to 0.2%, from 0.6 %), Mexico (to 0.5 %, from 0.8 %) and Japan, where GDP contracted by 0.3% in the fourth quarter following an expansion of 0.3 % in the previous quarter. GDP also contracted in Brazil, for the fourth straight quarter, but at a slower pace (minus 1.4 % after minus 1.7 %).
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 %).
On the other hand, growth accelerated marginally in Indonesia (to 1.3%, compared with 1.2 % in the previous quarter) and the United Kingdom (to 0.5 %, from 0.4 %), and was unchanged in France (0.3 %), Germany (0.3 %) and South Africa (0.2 %).
Compared with the same quarter of 2014, 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 %).
For 2015 as a whole, annual GDP grew by 3.2 % in the G20 area, compared with 3.3 % in 2014.