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G-20 economies grow by 0.8% in Q1
By TII News Service
Jun 18, 2012 , Paris |
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QUARTERLY Gross Domestic
Product (GDP) in the G20 area grew 0.8% in the first quarter of 2012 compared
with 0.7% in the fourth quarter of 2011, according to preliminary estimates.
This small pick-up in aggregate G20 GDP growth still masks diverging patterns
among the world’s largest economies however.
Growth accelerated in the first quarter of 2012 in Australia, Germany, Japan,
Korea, and Mexico, while it slowed or remained stable in all other G20 economies.
In China, growth decelerated, for the second consecutive quarter, to 1.8%.
Growth also slowed in India, Indonesia and South Africa. GDP continued to
contract in Italy for the third consecutive quarter, and in the United Kingdom.
Real GDP growth was nil in the European Union despite the strong rebound
in Germany (0.5% compared to minus 0.2% in the previous quarter).
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