The G-20 countries’ Gross Domestic Product (GDP) grew by 1.7% between the second and third quarter of 2021, after a moderate quarterly growth rate of 0.4% in the second quarter, according to preliminary estimates by the Organization for Economic Cooperation and Development (OECD).
According to the OECD, the relatively strong growth reflects a recovery in India, where GDP increased by 12.7% in the third quarter, after a contraction of 11.6% in the second quarter, driven mainly by fixed investments and private consumption.
However, several other countries registered a slowdown or contraction in GDP growth. In China, quarterly GDP growth decelerated from 1.2% to 0.2%, and in South Korea from 0.8% to 0.3%, in the third quarter of 2021.
Economic activity registered quarterly contraction in Australia (-1.9%), South Africa (-1.5%), Japan (-0.9%), Indonesia (-0.6%) and Mexico (-0, 4%), and continued to contract in Brazil (-0.1%).
While the GDP of the G-20 area as a whole exceeded its pre-pandemic level in the first quarter of 2021, half of the G-20 economies, including all G-7 economies except the United States, remain below levels. prior to the emergence of covid-19
Reference: CNN Brasil
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