G20 economic growth slows to 0.7 pct in 4Q: IMF
2012-03-15 12:56:32
The combined gross domestic product (GDP) of the G20 economies edged up 0.7 percent in the fourth quarter of 2011 compared with the previous quarter, slower than the 0.9 percent registered in the third quarter last year, the International Monetary Fund (IMF) said on Wednesday.
GDP growth in the G20 economies slowed to 3.3 percent in the fourth quarter of 2011 compared with the same quarter in 2010, less than 3.6 percent recorded in the third quarter of 2011, the IMF said in a report.
The total GDP of the G20 economies eased pace to 2.8 percent in 2011, a marked deceleration from 5 percent in 2010, against the backdrop of ongoing eurozone debt crisis, according to provisional results from the first-time release of the G20 economic output aggregate.
The report marked the first release of a G20 aggregate in the context of the implementation of the Data Gaps Initiative, a set of 20 recommendations on the further enhancement of statistics as agreed by the G20 finance ministers and central bank governors, said the IMF.
The process was coordinated by a group of international agencies including the IMF, European Central Bank, OECD, United Nations, World Bank and among others.