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Oecd - G20 GDP growth steady at 1.0% in third quarter of 2017

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Real gross domestic product (GDP) in the G20 area grew by 1.0% in the third quarter of 2017, the same rate as in the previous quarter but with wide variation across countries, according to provisional estimates. Growth accelerated strongly in Korea (to 1.5%, from 0.6%), and to a lesser extent in India (to 1.6%, from 1.4%) and

 Germany (to 0.8%, from 0.6%). Growth also picked up marginally (to 0.4%, from 0.3%) in Italy and the United Kingdom and was stable in Indonesia (1.2%) and the United States (0.8%). 

On the other hand, growth slowed markedly in Turkey (to 1.2%, from 2.2%), Russia (to 0.1%, from 1.0%), Canada (to 0.4%, from 1.0%), Brazil (to 0.1%, from 0.7%) and Mexico (to minus 0.3% from 0.3%). Growth also weakened in Australia (to 0.6%, from 0.9%), South Africa (to 0.5%, from 0.7%), China (to 1.7%, from 1.8%),Japan (to 0.6%, from 0.7%) and France (to 0.5%, from 0.6%). 

 

Year-on-year GDP growth for the G20 area increased to 3.9% in the third quarter of 2017 (from 3.7% in the previous quarter), with Turkey (10.2%) recording the highest growth and South Africa the lowest (1.0%).