G20 GDP Growth - First quarter of 2015, OECD


G20 GDP growth slows slightly to 0.7% in first quarter of 2015


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11/06/2015 - Quarterly Gross Domestic Product (GDP) in the G20 area grew by 0.7% in the first quarter of 2015, slightly down from 0.8% in the previous quarter, according to preliminary estimates. However, patterns diverged across countries. 

Among G20 economies, GDP contracted in Canada (by 0.1%), the United States (by 0.2%),and Brazil (by 0.2%), following positive growth of 0.6%, 0.5% and 0.3%, respectively, in the previous quarter. GDP growth also eased significantly in South Africa (to 0.3%, compared with 1.0% in the previous quarter), and to a lesser extent in Mexico (to 0.4%, compared with 0.7% in the previous quarter), Germany and the United Kingdom (to 0.3%, down from 0.7% and 0.6%, respectively, in the previous quarter). In China and Indonesia, GDP growth slowed slightly (to 1.3% and 1.1%, respectively, compared with 1.5% and 1.2%, respectively, in the previous quarter). 

On the other hand, India recorded the strongest growth in the first quarter of 2015 (2.1%, up from 1.4% in the previous quarter). GDP growth also accelerated in Turkey (to 1.3%, compared with 0.8% in the previous quarter), in Japan and Korea (to 1.0% and 0.8%, respectively, compared with 0.3%), and in Australia (to 0.9%, compared with 0.5%). Within the European group of G20 economies, economic growth accelerated in France and Italy (to 0.6% and 0.3%, respectively), after flat growth in the fourth quarter of 2014. 

Compared with the same quarter of 2014, GDP for the G20 area expanded by 3.3% in the first quarter of 2015 compared with 3.2% in the previous quarter, with India recording the highest growth rate (7.5%), followed by China (7.0%). Brazil recorded the largest contraction (minus 1.1%), followed by Japan (minus 1.0%). 


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




Next publication date: 14 September 2015



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