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Martine Durand, Chief Statistician and Director of Statistics Directorate
Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, show that the loss of momentum is likely to persist in the coming quarters in most major OECD and non-OECD economies.
Quarterly Gross Domestic Product (GDP) growth in the G20 area slowed to 0.6% in the second quarter of 2012 compared with 0.7% in the first quarter. This marks the third consecutive quarter of slowing growth in the G20 area but masks diverging patterns across economies.
Merchandise trade slowed in most major economies in the second quarter of 2012, with contractions in all major European economies, India, Russia and South Africa.
Provisional estimates show that quarter-on-quarter growth in gross domestic product (GDP) in the OECD area slowed to 0.2% in the second quarter of 2012, compared with 0.5% in the previous quarter.
Composite leading indicators (CLIs) continue to point to an easing of economic activity in most major OECD economies and slowdowns in most major non-OECD economies.
Composite leading indicators (CLIs) point to an easing of economic activity in most major OECD economies and a more marked slowdown in most major non-OECD economies.
Real GDP growth in the OECD area increased by 0.4% in the first quarter of 2012, compared with 0.3% growth in the previous quarter.
Quarterly Gross Domestic Product (GDP) in the G20 area grew 0.8% in the first quarter of 2012 compared with 0.7% in the fourth quarter of 2011, according to preliminary estimates. This small pick-up in aggregate G20 GDP growth still masks diverging patterns among the world's largest economies however.