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March 27, 2018

OECD says growth in G20 countries remained stable at 1.0% in last quarter of 2017

The Organisation for Economic Co-operation and Development (OECD) announced that growth of real gross domestic product (GDP) in the G20 area grew by 1.0% in the fourth quarter of 2017.

According to the OECD, GDP growth rebounded in Mexico, to 1.0%, in the fourth quarter of 2017, following the contraction of 0.3% in the previous quarter. Growth also picked up in South Africa (to 0.8%, from 0.6%) and France (to 0.6%, from 0.5%) and was stable in India (1.8%), Indonesia (1.3%) and Canada (0.4%).

Growth weakened in Australia (to 0.4%, from 0.7%), China (to 1.6%, from 1.8%), the United States (to 0.6%, from 0.8%) and Japan (to 0.4%, from 0.6%). Growth also slowed, but to a lesser extent, in Germany (to 0.6%, from 0.7%), the United Kingdom (to 0.4%, from 0.5%), Italy (to 0.3%, from 0.4%) and Brazil (to 0.1%, from 0.2%). On the other hand, GDP contracted by 0.2% in Korea (following growth of 1.5% in the previous quarter).

Year-on-year GDP growth for the G20 area was stable at 4.0% in the fourth quarter of 2017, with China and India (6.8%) recording the highest growth and the United Kingdom the lowest (1.4%).

For 2017 as a whole, real GDP growth in the G20 area picked up to 3.8%, from 3.2% in 2016.


 

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