G20 GDP Progress – Fourth Quarter of 2021, OECD

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G20 GDP progress slows within the fourth quarter of 2021

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15 March 2022 – in Gross Home Product (GDP) G20 Area In line with provisional estimates, there was a progress of 1.4% between the third and fourth quarters of 2021, decrease than the 1.9% progress recorded between the second and third quarters.

recession in G20 Area The fourth quarter (This autumn) of 2021 primarily displays a decline in India,1 The place GDP grew by 1.8% quarter-on-quarter after a 13.7% progress within the third quarter (Q3). It additionally displays a slower progress in quarter-on-quarter progress. european Federation (EU) the place GDP grew 0.4% in This autumn 2021, down from 2.2% in Q3. GermanyThe European Union’s largest financial system, noticed a 0.3% decline in GDP within the fourth quarter and was the one G20 nation to register a contraction.2 GDP progress additionally declined Saudi Arab (1.6% in This autumn as in comparison with 5.7% in Q3) and turkey (as much as 1.5% in comparison with 2.8%).

regardless of the pattern G20 Area As a complete, many G20 international locations posted stronger progress in This autumn 2021 than in Q3. In United States of America quarter-on-quarter GDP progress elevated to 1.7% from 0.6% within the earlier quarter, and China It elevated from 0.7% to 1.6%. GDP progress additionally elevated Indonesia, from a weak 0.1% in Q3 to a robust 3.9% in This autumn, with GDP exceeding its pre-pandemic degree for the primary time (2.9%). In Australia GDP declined by 1.9% within the third quarter, up 3.4% in This autumn, whereas in south Africa GDP grew by 1.2% within the fourth quarter (from minus 1.7% in Q3) and in . In Brazil It rose 0.5% (from minus 0.1%). Mexico No progress was reported in This autumn 2021 after a contraction of 0.7% within the earlier quarter.

Trying on the total 2021 progress, as per preliminary estimates, the GDP progress G-20 area The expansion was 6.1% after a fall of three.2% recorded in 2020 as a result of COVID-19 pandemic. In G20 international locations, turkey Highest progress was recorded in 2021 (11.0%), adopted by India (8.3%) and China (8.1%), whereas JapanThe bottom progress (1.6%) was recorded.

Supply: OECD Quarterly Nationwide Accounting Database

@OECD_STAT



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