REUTERS
The combined GDP of the G20 rose by 0.9% in October-December 2014, compared to the previous quarter, based on preliminary estimates of the Organization for Economic Cooperation and Development (OECD), Russian newspaper Vesti Ekonomika has reported.
Overall, the GDP of the G20 grew by 3.4% in 2014, the newspaper wrote.
A similar increase was recorded in the third quarter, with the strongest performance in the last quarter demonstrated by the economies of India and China - 1.6% and 1.5% respectively (after increases of 2.2% and 1.9% respectively in the third quarter).
Significantly lower were the rates of U.S. GDP increase (from 1.2% to 0.5%) and that of South Korea (from 0.9% up to 0.4%), the report says. The growth of Canada’s GDP has slowed from 0.8% to 0.6%, in the UK it was down from 0.7% to 0.5% and in France it dropped from 0.3% to 0.1%. Indonesia's GDP increased by 1.2% based on quarterly data from 2014.
In the fourth quarter, notable economic recovery was demonstrated in Germany (0.7% to 0.1%) and South Africa (1%, 0.5%) while there was less significant growth in Australia (to 0.5% from 0.4%), and Mexico (to 0.7% from 0.5%).
Japan has emerged from recession; the economy of Japan grew by 0.4% in the fourth quarter after seeing a 0.7% decline in July-September. Italy's GDP has not changed after posting a reduction of 0.1% in the third quarter.
Overall, in 2014 the GDP of the G20 grew by 3.4%, against 3.2% in the previous year.