Slight easing in G20 GDP growth in fourth quarter of 2015 | WPN World People News

Growth of real Gross Domestic Product (GDP) in the G20 area (see technical note) eased slightly to 0.7% in the fourth quarter of 2015, down from a constant rate of 0.8% recorded in the four previous quarters, according to preliminary estimates.

Quarterly GDP in volume terms for the G20

Percentage change on the previous quarter, seasonally adjusted data

GDP growth slowed markedly in Korea (to 0.6%, compared with 1.3% in the previous quarter), Australia (to 0.6%, from 1.1%), Canada (to 0.2%, from 0.6%), Mexico (to 0.5%, from 0.8%) and Japan, where GDP contracted by 0.3% in the fourth quarter following an expansion of 0.3% in the previous quarter. GDP also contracted in Brazil, for the fourth straight quarter, but at a slower pace (minus 1.4% after minus 1.7%).

GDP growth slowed marginally in China (to 1.6%, from 1.8%), the United States (to 0.3%, from 0.5%), India (to 1.7%, from 1.8%) and Italy (to 0.1%, from 0.2%).
On the other hand, growth accelerated marginally in Indonesia (to 1.3%, compared with 1.2% in the previous quarter) and the United Kingdom (to 0.5%, from 0.4%), and was unchanged in France (0.3%), Germany (0.3%) and South Africa (0.2%).

Compared with the same quarter of 2014, GDP growth for the G20 area slowed to 3.0% in the fourth quarter of 2015, compared with 3.1% in the previous quarter, with India recording the highest growth rate (7.5%), followed by China (6.8%). Brazil recorded the lowest rate (minus 6.0%).

For 2015 as a whole, annual GDP grew by 3.2% in the G20 area, compared with 3.3% in 2014.

Source: Organization for Economic Co-operation and Development