Posted 14/12/2023 09:00 | Updated on 12/14/2023 09:01
The Organization for Economic Co-operation and Development’s (OECD) gross domestic product (GDP) grew by 0.7% in the third quarter, compared to the previous quarter, the organization said on Thursday. The result reflects a slight acceleration, after a 0.6% increase in the second quarter.
In a report, the OECD says the performance of G20 countries in the third quarter was “mixed”. Economies strengthened in China and the US and Mexico, while Italy grew by 0.1% after a 0.4% contraction in the second quarter.
On the other hand, the situation worsened in other countries in the group like Saudi Arabia, Turkey, Japan, Canada, South Africa, France and Germany.
Brazil’s GDP also fell, while Australia, India, Indonesia, the United Kingdom and the European Union experienced the least loss of steam.
Compared to the same period last year, G20 GDP grew 2.9% in the third quarter and 3.6% in the second, the report said.
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