São Paulo – This Wednesday (13th), the Organization for Cooperation and Economic Development (OECD) reported that the Gross Domestic Product (GDP) of the G20, a bloc comprising the world’s largest economies, was up 0.5% in quarter four from quarter three, 2012. The GDP growth rate, however, was down from quarter three’s 0.6%.
The OECD warned, however, that the number of member countries in the group masks up the fact that performance varies a lot from country to country. In Europe, however, the GDPs of Italy, Germany, France and United Kingdom declined, while the GDPs of other developed economies such as the United States, Japan and Canada saw modest increases.
The GDPs of some emerging nations such as India, Mexico, Korea, South Africa and Brazil grew by a higher rate in quarter four than in quarter three. Brazil’s GDP, for instance, grew by 0.6% and 0.4%, respectively. Australia, Indonesia and China remained at the same level from quarter three to quarter four.
Compared with quarter four, 2011, the G20’s GDP was up 2.4%, which is down from quarter three’s 2.7%. In the whole year of 2012, the block’s GDP was up 2.8%, as against 3.8% in the preceding year.
*Translated by Gabriel Pomerancblum
