According to the Organization for Economic Co-operation and Development, economic growth for the G20 area came in at 3% in annual terms in the final quarter of 2015 from the reporting period a year ago. GDP expanded 3.1% in Q3 2015.
The sequential GDP growth eased slightly in Q4 to 0.7% from 0.8% in July – September. Most G20 countries slowed down their economic growth. South Korea’s GDP fell markedly to 0.6% from 1.3% in Q3. Besides, GDP contracted in Brazil by 1.4% for the fourth straight quarter, but at a slower pace. Japan’s GDP fell by 0.3% in Q4. On the other hand, India recorded the fastest growth rate to 7.5%, followed by China with 6.8% GDP growth.
G20 comprises 19 largest global economies such as Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, South Africa, Saudi Arabia, South Korea, Turkey, the UK, the US, and the European Union.
