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G20 GDP growth stable at 0.7% in Q3 2015

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Staff writer ▼ | December 15, 2015
Real growth of Gross Domestic Product (GDP) in the G20 area remained stable at 0.7% in the third quarter of 2015, for the third consecutive quarter, but with diverging patterns across countries, according to preliminary estimates.
G20 economies
Growth   Real growth of GDP in the G20 area
GDP growth accelerated strongly in Korea and Australia (to 1.3% and 0.9% respectively, compared with 0.3% in the previous quarter), and in Canada (to 0.6%, compared with minus 0.1%).

It also turned up in Japan (to 0.3%, up from minus 0.1% in the previous quarter) and in South Africa (to 0.2%, up from minus 0.3% in the previous quarter).

Economic growth accelerated more moderately in Mexico and France, to 0.8% and 0.3% respectively (compared with 0.6% and 0.0% in the previous quarter) and in India (to 1.9% compared with 1.7% in the previous quarter).

In China and Indonesia, economic growth remained unchanged at 1.8% and 1.2%, respectively.

On the other hand, in the third quarter of 2015, GDP growth slowed in the United States and in the United Kingdom, to 0.5% (down from 1.0% and 0.7%, respectively, in the previous quarter), while it decelerated marginally (by 0.1% percentage point) in Turkey, Germany and Italy, to respectively 1.3%, 0.3% and 0.2%.

In Brazil, real GDP continued to contract, at a rate of minus 1.7%, following a decline of minus 2.1% in the previous quarter.

Compared with the same quarter of 2014, GDP growth for the G20 area slowed to 2.9% in the third quarter of 2015, compared with 3.1% in the previous quarter, withIndia recording the highest growth rate (7.1%), followed by China (6.9%). Brazil recorded the largest contraction (minus 4.4%). reports OECD.

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