G20 expands faster in Q1
Source: Bloomberg News |
June 14, 2012, Thursday
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Print Edition
Print Edition
ECONOMIC growth in the Group of 20 nations accelerated in the first quarter, led by Germany, Australia, Japan, South Korea and Mexico, according to the Organisation for Economic Cooperation and Development.
Gross domestic product rose 0.8 percent after a 0.7 percent increase in the final three months of 2011, the Paris-based body said in an e-mailed statement yesterday. Growth slowed to 1.8 percent in China, while the Italian and UK economies shrank and the European Union stagnated.
''This small pick-up in aggregate G20 GDP growth still masks diverging patterns among the world's largest economies,'' the OECD said.
G20 leaders are set to meet on Monday in the Mexican resort of Los Cabos as the crisis in the euro area escalates.
Gross domestic product rose 0.8 percent after a 0.7 percent increase in the final three months of 2011, the Paris-based body said in an e-mailed statement yesterday. Growth slowed to 1.8 percent in China, while the Italian and UK economies shrank and the European Union stagnated.
''This small pick-up in aggregate G20 GDP growth still masks diverging patterns among the world's largest economies,'' the OECD said.
G20 leaders are set to meet on Monday in the Mexican resort of Los Cabos as the crisis in the euro area escalates.
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