THE
Quarterly Gross Domestic Product (GDP) growth in the G20 slowed to +0.7% in the
fourth quarter of 2011, compared with +0.9% in the third quarter, according to
provisional results of the G20 GDP aggregate. In 2011 as a whole, G20 GDP rose
by +2.8%, a marked deceleration compared with the +5.0% growth recorded in 2010.
The G20 GDP aggregate masks diverging patterns among the world's largest
economies. In the United States, GDP growth increased to +0.7% in the fourth
quarter of 2011, compared with +0.5% in the third quarter. In India and
Indonesia growth increased strongly, but slowed in China to +2.0%, compared with
+2.3% in the third quarter. In Japan, economic growth decreased to -0.2%,
following the strong rebound (+1.7%) in the third quarter. GDP fell by -0.3% in
both the European Union and the euro area in the fourth quarter of 2011, the
first fall since the second quarter of 2009.
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