Economic growth in the G20 perked up in the third quarter, the Organization for Economic Cooperation and Development (OECD) reports.<\/p>\n
Based on early estimates, third quarter GDP growth in the G20 came in at 1.3%, quarter over quarter, the OECD said. This followed a 0.3% decline in the second quarter.<\/p>\n
“The bounce back in the G20 area in the third quarter mainly reflected a recovery in China, as some of the country\u2019s strictest Covid-19 lockdowns began to be eased,” the Paris-based group said.<\/p>\n
The OECD reported that GDP in China grew by 3.9% in Q3 after contracting by 2.7% in the previous quarter.<\/p>\n
Additionally, growth resumed in the U.S., posting a 0.7% gain, after contracting by 0.1% in the previous quarter.<\/p>\n
“Together, China and the U.S. contributed four-fifths of the 1.3% G20 growth,” the OECD said, adding that GDP also rebounded in India and South Africa, and continued to rise in Germany and Saudi Arabia.<\/p>\n
At the same time, growth slowed in Canada and much of the rest of the G20, and slight contractions were recorded in Japan, the U.K. and Turkey, it noted.<\/p>\n
Still, with the rebound in the third quarter, GDP in the G20 area exceeded its pre-pandemic level by 6.0%, the OECD said, noting that the U.K. was the only G20 country that had not yet recovered its pre-pandemic level.<\/p>\n","protected":false},"excerpt":{"rendered":"
China and the U.S. led the recovery<\/p>\n","protected":false},"author":147314,"featured_media":414824,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2313,2312],"tags":[2395,2566],"yst_prominent_words":[10007,99817,72808,64399,57880,47098,20973,20618,19737,19044,11254,1695,9899,6909,6837,4878],"acf":[],"_links":{"self":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/457488"}],"collection":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/users\/147314"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/comments?post=457488"}],"version-history":[{"count":4,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/457488\/revisions"}],"predecessor-version":[{"id":457506,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/457488\/revisions\/457506"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media\/414824"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=457488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=457488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=457488"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=457488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}