Small pick-up in G20 GDP growth in first quarter of 2012 despite slowdown in emerging economies

 

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13/06/2012 -  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.

Growth accelerated in the first quarter of 2012 in Australia, Germany, Japan, Korea, and Mexico, while it slowed or remained stable in all other G20 economies. In China, growth decelerated, for the second consecutive quarter, to 1.8%. Growth also slowed in India, Indonesia and South Africa.  GDP continued to contract in Italy for the third consecutive quarter, and in the United Kingdom. Real GDP growth was nil in the European Union despite the strong rebound in Germany (0.5% compared to minus 0.2% in the previous quarter). 

G20 Quarterly GDP in volume terms Percentage change on the previous quarter, seasonally adjusted data

Link to underlying data - Source: Quarterly National Accounts

 

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