G20 GDP Growth - Fourth quarter of 2013, Quarterly National Accounts, OECD | WPN World People News

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.

Quarterly GDP in volume terms for the G20

Percentage change on the previous quarter, seasonally adjusted data

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 remainedstrong 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.

Source: Organization for Economic Co-operation and Development