QUARTERLY Gross Domestic Product (GDP) in the G20 area
grew by 0.8% in the fourth quarter of 2013, down from 0.9% in the previous
quarter, according to preliminary estimates.
Among G20 economies, China
recorded the strongest growth at 1.8%, compared with 2.2% in the previous
quarter, followed by Indonesia with growth of 1.4%, the same rate as in the
previous quarter.
In
Canada and Japan GDP growth remained unchanged at 0.7% and 0.2% respectively.
In
South Africa and Australia, GDP growth accelerated to 0.9% and 0.8%
respectively, compared with 0.2% and 0.6% in the third quarter. In Brazil, GDP
grew by 0.7%, rebounding from a contraction of 0.5% in the previous
quarter.
GDP
growth slowed in Korea, the United Kingdom and the United States yet remained
strong at 0.9%, 0.7% and 0.6% respectively, compared with 1.1%, 0.8% and 1.0% in
the third quarter.
In
France, GDP increased by 0.3%, after remaining flat in the previous quarter
while Germany’s GDP growth accelerated slightly to 0.4%. In Italy, GDP increased
by 0.1%, the first positive growth rate after nine consecutive quarters of
decline.
In
India and Mexico, GDP growth slowed significantly to 1.0% and 0.2% respectively
in the fourth quarter of 2013 after 1.8% and 0.9% in the third
quarter.
Compared with the same quarter of 2012, GDP for the G20 area expanded by
3.3% in the fourth quarter of 2013, up from 2.9% in the previous quarter. Among
G20 economies, China recorded the highest growth rate (7.7%) and Italy the
largest contraction (minus 0.9%).
For
2013 as a whole, GDP expanded by 2.8% in the G20 area, compared with 2.9% in
2012.
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