G20 GDP growth picked up slightly to 0.8% in the third quarter of 2016

G20 GDP growth picked up slightly to 0.8% in the third quarter of 2016

Real gross domestic product (GDP) in the G20 area grew by 0.8 % in the third quarter of 2016, slightly up from 0.7 % in the second quarter, according to provisional estimates but with notable regional differences

Growth picked up strongly in North America: to 0.9 %, (from minus 0.3 %) in Canada, to 1.0 %, (from 0.1 %) in Mexico and to 0.8 %, (from 0.4 %) in the United States.

On the other hand growth slowed in most Asia Pacific economies, in particular Australia (to minus 0.5%, from 0.6 %), and also in China (to 1.8 %, from 1.9 %), Korea (to 0.6 %, from 0.8 %), Japan (to 0.3%, from 0.5 %) and Indonesia (to 1.2 %, from 1.3 %). Growth picked up in India (to 1.8 %, from 1.5 %).

OECD

In Europe, growth slowed in the United Kingdom (to 0.5 %, from 0.7 %) and Germany (to 0.2 %, from 0.4 %), and picked up in France (to 0.2 %, from minus 0.1 %) and Italy (to 0.3 %, from 0.1 %), but was stable in the European Union as a whole and in the Euro Area.

Growth also slowed in South Africa (to 0.1 %, from 0.9 %) and Brazil (to minus 0.8 %, from minus 0.4 %).

Year-on-year GDP growth for the G20 area was stable at 2.9 % in the third quarter of 2016, with India (7.2 %) and China (6.7 %) recording the highest growth rates, while Brazil continued to show the lowest rate (minus 2.9 %).

www.oecd.org


Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.