G20 GDP Growth - Second quarter of 2015, OECD | WPN World People News

Real Gross Domestic Product (GDP) in the G20 area grew by 0.7% in the second quarter of 2015, the same rate as in the first quarter, but with diverging patterns across countries, according to preliminary estimates.

Quarterly GDP in volume terms for the G20

Percentage change on the previous quarter, seasonally adjusted data

GDP growth accelerated strongly in the United States in the second quarter (to 0.9%, compared with 0.2% in the previous quarter). GDP growth also accelerated in China (to 1.7% compared with 1.4% in the previous quarter) and in the United Kingdom (rising to 0.7% from 0.4%). In Mexico and Germany, growth was 0.5% and 0.4%, respectively, in the second quarter compared with 0.4% and 0.3% in the previous quarter. GDP growth remained unchanged in Indonesia at 1.1%.

GDP growth slowed among other G20 economies in the second quarter of 2015. In Japan, GDP fell 0.3%, compared with growth of 1.1% in the previous quarter while in Brazil GDP fell 1.9%, compared with a drop of 0.7% in the previous quarter. In South Africa GDP fell 0.3%, compared with growth of 0.3% in the previous quarter. In Australia and France, GDP growth slowed markedly (to 0.2% and 0.0%, respectively, compared with 0.9% and 0.7% in the previous quarter).

Compared with the same quarter of 2014, GDP for the G20 area expanded by 3.2% in the second quarter of 2015, the same growth rate as in the previous quarter, with India recording the highest growth rate (7.2%), followed by China (7.0%). Brazil recorded the largest contraction (minus 2.4%).

Source: Organization for Economic Co-operation and Development