The Organization for Economic Cooperation and Development (OECD) announced on Thursday that the gross domestic product (GDP) of the G20 rose by 0.9% in the fourth quarter of 2024 on a quarterly basis.
The OECD noted that quarterly GDP growth rates in the G20 have remained relatively stable over the past two years, ranging between 0.6% and 1.0%. Some countries saw notable rebounds, including Türkiye, where growth surged from -0.1% to 1.7%, and South Africa, which improved from -0.1% to 0.6%. Growth also increased in China (from 1.3% to 1.6%), India (1.4% to 1.6%), Australia (0.3% to 0.6%), Japan (0.4% to 0.6%), Canada (0.5% to 0.6%), and both Italy and the UK (from 0% to 0.1%).
On the other hand, growth either slowed or contracted in several countries. Mexico recorded a contraction of -0.6%, followed by Germany (-0.2%) and France (-0.1%). Growth also slowed in the United States (from 0.8% to 0.6%), Saudi Arabia (from 0.9% to 0.5%), and Brazil (from 0.7% to 0.2%). Meanwhile, Indonesia (1.2%) and South Korea (0.1%) remained stable compared to the previous quarter.
