G20 GDP up 0.7% in the first quarter of 2013
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13/06/2013 - Quarterly Gross Domestic Product (GDP) in the G20 area grew by 0.7% in the first quarter of 2013 compared with 0.6% in the previous quarter, according to preliminary estimates. However, the aggregate G20 GDP growth rate continues to mask diverging patterns across the world’s largest economies.
Among European G20 countries, GDP grew in the first quarter of 2013 in the United Kingdom and Germany (by 0.3% and 0.1%, respectively) following a contraction in the previous quarter. GDP continued to contract in France and Italy, although in Italy the pace of contraction slowed.
Growth accelerated in Turkey (from 0.1% to 1.6%), in Japan (from 0.3% to 1.0%), in Korea (from 0.3% to 0.8%) and in Canada and United States (rising to 0.6% compared with 0.2% and 0.1%, respectively, in the previous quarter).
Growth remained stable in Australia and Brazil (0.6%) and was broadly stable in Indonesia (from 1.5% to 1.4%). It also slowed in Mexico (from 0.7% to 0.5%), in South Africa (from 0.5% to 0.2%), in China (from 2.0% to 1.6%), and more significantly in India (from 1.2% to 0.5%).
Compared with the same quarter of 2012, GDP growth for the G20 area remained stable at 2.4% in the first quarter of 2013, with China recording the highest growth rate (7.7%) and Italy the largest contraction (minus 2.3%).
Quarterly GDP in volume terms for the G20
Percentage change on the previous quarter, seasonally adjusted data
Note: Growth rates presented in this chart are based on data with more than one decimal.
Link to underlying data - Source: Quarterly National Accounts