Slight easing of G20 GDP growth in first quarter of 2018

G7 OECD

(JUSTIN TRUDEAU, PRIME MINISTER OF CANADA, 2017)

This article is brought to you in association with OECD.

Growth of real gross domestic product (GDP) in the G20 area eased slightly to 0.9% in the first quarter of 2018, from 1.0% in the previous quarter, according to provisional estimates.

GDP contracted by 0.5% in South Africa (following growth of 0.8% in the previous quarter) and by 0.2% in Japan (compared with 0.3% in the previous quarter). Growth slowed significantly in France (to 0.2%, from 0.7%) and, to a lesser extent, in the United Kingdom (to 0.1%, from 0.4%) and Germany (to 0.3%, from 0.6%). Growth also slowed in the United States (to 0.5%, from 0.7%), China (to 1.4%, from 1.6%) and in Canada and Italy (to 0.3%, from 0.4%). Growth remained stable in Indonesia (1.2%).

On the other hand, GDP growth rebounded in Korea, to 1.0%, in the first quarter of 2018, following a 0.2% contraction in the previous quarter. It also picked up significantly in Australia (to 1.0%, from 0.5%), and marginally in Turkey (to 2.0%, from 1.7%), Mexico (to 1.1%, from 0.9%), Brazil (to 0.4%, from 0.2%) and India (to 1.9%, from 1.8%).

Year-on-year GDP growth for the G20 area slowed marginally to 3.9% in the first quarter of 2018 (from 4.0% in the previous quarter) with India recording the highest growth (7.4%) and Japan the lowest (1.1%)6.

‌‌‌‌‌‌‌‌Slight easing of G20 GDP growth in first quarter of 2018‌‌

Note: Growth rates presented in this chart are based on data with more than one decimal.

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