G20 economy expands 0.9% in Q4

ISTANBUL

Gross domestic product in the G20 region rose 0.9% in the fourth quarter of 2024 on a quarterly basis, the Organization for Cooperation and Development said on Thursday.

"Quarterly G20 GDP growth rates remained relatively stable over the past two years, ranging between 0.6 and 1.0%," it said.

It stressed that GDP growth rebounded noticeably in the fourth quarter in Türkiye from minus 0.1% to 1.7%, and in South Africa from minus 0.1% to 0.6%.

Growth rose in China from 1.3% to 1.6%, India from 1.4% to 1.6%, Australia from 0.3% to 0.6%, Japan from 0.4% to 0.6%, Canada from 0.5% to 0.6%), and in both Italy and the UK from 0% to 0.1%.

Growth was stable in Indonesia at 1.2% and South Korea at 0.1%, while the remaining G20 countries experienced either contractions or slowdowns in growth in Q4 compared with Q3.

GDP contracted in Mexico 0.6%, Germany 0.2% and France 0.1%, and growth slowed in the US from 0.8% to 0.6%, Saudi Arabia from 0.9% to 0.5%. and Brazil from 0.7% to 0.2%.

ISTANBUL

Gross domestic product in the G20 region rose 0.9% in the fourth quarter of 2024 on a quarterly basis, the Organization for Cooperation and Development said on Thursday.

"Quarterly G20 GDP growth rates remained relatively stable over the past two years, ranging between 0.6 and 1.0%," it said.

It stressed that GDP growth rebounded noticeably in the fourth quarter in Türkiye from minus 0.1% to 1.7%, and in South Africa from minus 0.1% to 0.6%.

Growth rose in China from 1.3% to 1.6%, India from 1.4% to 1.6%, Australia from 0.3% to 0.6%, Japan from 0.4% to 0.6%, Canada from 0.5% to 0.6%), and in both Italy and the UK from 0% to 0.1%.

Growth was stable in Indonesia at 1.2% and South Korea at 0.1%, while the remaining G20 countries experienced either contractions or slowdowns in growth in Q4 compared with Q3.

GDP contracted in Mexico 0.6%, Germany 0.2% and France 0.1%, and growth slowed in the US from 0.8% to 0.6%, Saudi Arabia from 0.9% to 0.5%. and Brazil from 0.7% to 0.2%.