09/14/2023 – 7:38
The Gross Domestic Product (GDP) of the G20, as the group of the 20 largest economies in the world is known, grew 0.7% in the second quarter of 2023 compared to the previous three months, according to a report published by the Organization for Economic Cooperation and Development ( OECD) this Thursday, 14. The result shows a slowdown in relation to the first quarter of the year, when the G20 GDP increased by 1% compared to the fourth quarter of 2022.
The cooling mainly reflects the slowdown in China, whose economy expanded by 0.8% in the second quarter, after advancing 2.2% in the previous quarter, details the OECD. Growth also lost momentum in Brazil (from 1.8% in the first quarter to 0.9% in the second) and, to a lesser extent, in India (from 2.1% to 1.9%).
On the other hand, GDP gained strength in the second quarter in countries such as France, Japan, South Korea, the United Kingdom, Turkey and South Africa.
Germany, in turn, stagnated between April and June, after two consecutive quarters of contraction, according to the OECD. In the United States, there was an increase of 0.5% in the period, the same as in the first quarter.
At the end of the second quarter, G20 GDP exceeded the pre-covid-19 pandemic level by 8.8%. The United Kingdom, however, remained below its pre-pandemic level by 0.2%, says the report.
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