G20 GDP growth accelerates to 0.9% in second quarter of 2017 | WPN World People News

Growth of real Gross Domestic Product (GDP) in the G20 area* accelerated to 0.9% in the second quarter of 2017, compared with 0.8% in the previous quarter, according to provisional estimates.

Growth picked up strongly in Turkey, to 2.1% (as compared with 1.3% in the first quarter of 2017), the highest quarterly growth among G20 economies. Real GDP also increased significantly in China (by 1.7%, compared with 1.3% in the previous quarter), South Africa (by 0.6%, following a contraction of 0.1%) and in Australia and the United States (by 0.8%, compared with 0.3% in the previous quarter). Growth also picked up, although to a lesser extent, in India (to 1.4%, from 1.3%), Canada (to 1.1%, from 0.9%), Japan (to 0.6%, from 0.3%), and the United Kingdom (to 0.3%, from 0.2%).

Growth remained stable in Indonesia (1.2%), France (0.5%) and Italy (0.4%), while it slowed markedly in Brazil (to 0.2%, from 1.0%) and Korea (to 0.6%, from 1.1%). Growth also weakened in Germany and Mexico (to 0.6%, from 0.7%).

Year-on-year GDP growth for the G20 area* increased to 3.6% in the second quarter of 2017 (from 3.4% in the previous quarter), with China (6.9%) and Turkey (6.1%) recording the highest growth rates and Brazil the lowest rate (0.2%).

Source: Organization for Economic Co-operation and Development