Economic expansion in G20 nations slows in Q4
Source: Bloomberg News |
March 15, 2012, Thursday
|
Print Edition
Print Edition
ECONOMIC expansion in the Group of 20 countries slowed in the fourth quarter of last year, according to a new statistical series published yesterday by seven international institutions.
The gross domestic product in the G20 nations rose 0.7 percent in the final three months of 2011 from the previous quarter, when it added 0.9 percent, according to the data released in Paris and Washington by the International Monetary Fund, the Bank for International Settlements, the European Central Bank, Eurostat, the Organization for Economic Cooperation and Development, the United Nations and the World Bank.
The G20 growth of 2.8 percent for 2011 showed "a marked deceleration compared with the 5 percent growth in 2010," the institutions said in a statement. "The G20 GDP aggregate masks diverging patterns among the world's largest economies."
The G20 is composed of industrial and emerging economies and accounts for about 85 percent of the world economy. While the US returned to growth and economies, including India and Indonesia, expanded strongly, the European Union and Japan shrank in the same period, the report showed.
China's economic growth slowed to 2 percent from 2.3 percent in the third quarter, the report said.
The gross domestic product in the G20 nations rose 0.7 percent in the final three months of 2011 from the previous quarter, when it added 0.9 percent, according to the data released in Paris and Washington by the International Monetary Fund, the Bank for International Settlements, the European Central Bank, Eurostat, the Organization for Economic Cooperation and Development, the United Nations and the World Bank.
The G20 growth of 2.8 percent for 2011 showed "a marked deceleration compared with the 5 percent growth in 2010," the institutions said in a statement. "The G20 GDP aggregate masks diverging patterns among the world's largest economies."
The G20 is composed of industrial and emerging economies and accounts for about 85 percent of the world economy. While the US returned to growth and economies, including India and Indonesia, expanded strongly, the European Union and Japan shrank in the same period, the report showed.
China's economic growth slowed to 2 percent from 2.3 percent in the third quarter, the report said.
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