G20 GDP accelerated 0.7% in the third quarter of this year, according to the OECD, which released its quarterly provisional estimates this Thursday. In a press release, the OECD reports on the mixed economic performance of G20 countries in the third quarter, with the Chinese and North American economies showing the most growth.
The gross domestic product (GDP) of the G20 countries grew by 0.7% in the third quarter of this year, according to the Organization for Economic Co-operation and Development (OECD).
In a press release, the intergovernmental organization reports on the mixed economic performance of the G20 countries in the third quarter, with the Chinese and North American economies showing the highest growth.
In a chain analysis, a small increase is at risk compared to the 0.6% recorded between April and June 2023.
According to Economies, both China and the US grew by 1.3% of GDP; In the previous quarter, both the countries had registered a growth of 0.5%. Mexico’s economy expanded 1.1% in the third quarter, up from the 0.9% seen between April and June. Turning to Europe, the Italian economy rebounded to 0.1% in the third quarter after contracting 0.4% in the second quarter.
The economies of the rest of the G20 countries contracted during the period under review. Saudi Arabia’s GDP shrank 3.2% in the third quarter, resulting in a sharp drop in oil activity; In the previous quarter, the only Arab economy in the G20 showed a 0.5% decline.
As for Turkey, which saw positive growth, the economy shrank by 0.3% in the third quarter due to a drop in private consumption, down 1.7% compared to a 4.7% increase in the second quarter.
And according to the OECD, after recording growth between April and June, the economies of Japan (-0.7%), Canada (-0.3%), South Africa (-0.2%), France (- 0.1%) and Germany (-0.1%) %) showed negative change. In Brazil, GDP fell 0.1% in the third quarter after rising 1.0% in the second quarter.
According to the OECD, G20 GDP showed year-on-year growth of 2.9% between July and September, up from 3.6% in the previous quarter.
India recorded the largest growth (7.0%) in the last four quarters, while Saudi Arabia recorded the largest decline (-3.6%).
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