G20 GDP growth nudges up to 1.0% in the second quarter of 2018

G20 Growth 2018

‌‌‌‌‌Note: Growth rates presented in this chart are based on data with more than one decimal. (OECD, 2018)

This article is brought to you in association with OECD.

Growth of real gross domestic product (GDP) in the G20 area picked-up marginally to 1.0% in the second quarter of 2018, compared with 0.9% in the previous quarter, according to provisional estimates.

GDP growth rebounded in Japan, to 0.7% in the second quarter of 2018, following a contraction of 0.2% in the previous quarter. It also picked-up significantly in the United States (to 1.0%, from 0.5% in the previous quarter), Russia (to 0.9%, from 0.4%) and China (to 1.8%, from 1.4%). Real GDP growth also picked-up in Canada (to 0.7%, from 0.4%), and to a lesser extent, in the United Kingdom (to 0.4%, from 0.2%), Germany (to 0.5%, from 0.4%) and Brazil (to 0.2%, from 0.1%).

On the other hand, growth slowed significantly in Turkey (to 0.9%, from 1.5%) and Korea (to 0.6%, from 1.0%), and, to a lesser extent, in Australia (to 0.9%, from 1.1%), India (to 1.9%, from 2.0%) and Italy (to 0.2%, from 0.3%). GDP growth was stable in Indonesia (1.3%) and France (0.2%) but GDP contracted by 0.2% in Mexico (following growth of 1.0% in the previous quarter) and South Africa (following a contraction of 0.7% in the previous quarter).

Year-on-year GDP growth for the G20 area remained stable at 3.9% in the second quarter of 2018, with India recording the highest growth (8.0%) and South Africa the lowest (0.5%).

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