G20 GDP growth slowed slightly to 0.8% in fourth quarter of 2013
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17/03/2014 - Quarterly Gross Domestic Product (GDP) in the G20 area grew by 0.8% in the fourth quarter of 2013, down from 0.9% in the previous quarter, according to preliminary estimates.
Among G20 economies, China recorded the strongest growth at 1.8%, compared with 2.2% in the previous quarter, followed by Indonesia with growth of 1.4%, the same rate as in the previous quarter.
In Canada and Japan GDP growth remained unchanged at 0.7% and 0.2% respectively.
In South Africa and Australia, GDP growth accelerated to 0.9% and 0.8% respectively, compared with 0.2% and 0.6% in the third quarter. In Brazil, GDP grew by 0.7%, rebounding from a contraction of 0.5% in the previous quarter.
GDP growth slowed in Korea, the United Kingdom and the United States yet remainedstrong at 0.9%, 0.7% and 0.6% respectively, compared with 1.1%, 0.8% and 1.0% in the third quarter.
In France, GDP increased by 0.3%, after remaining flat in the previous quarter while Germany’s GDP growth accelerated slightly to 0.4%. In Italy, GDP increased by 0.1%, the first positive growth rate after nine consecutive quarters of decline.
In India and Mexico, GDP growth slowed significantly to 1.0% and 0.2% respectively in the fourth quarter of 2013 after 1.8% and 0.9% in the third quarter.
Compared with the same quarter of 2012, GDP for the G20 area expanded by 3.3% in the fourth quarter of 2013, up from 2.9% in the previous quarter. Among G20 economies, China recorded the highest growth rate (7.7%) and Italy the largest contraction (minus 0.9%).
For 2013 as a whole, GDP expanded by 2.8% in the G20 area, compared with 2.9% in 2012.
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