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G20 economy rebounds in Q3, still below pre

作者:admin 2020-12-16

G20 economy rebounds in Q3, still below pre  第1张

A worker is busy on the production line at the weaving workshop in an economic development zone in Lianyungang, east China's Jiangsu Province, Oct. 19, 2020. (Photo by Geng Yuhe/Xinhua)


 
Gross domestic product (GDP) in the G20 area rebounded by 8.1 percent in the third quarter of 2020 but remained 2.4 percent below its pre-crisis high of the final quarter of 2019, said the Organization for Economic Co
operation and Development (OECD) on Monday.

Many G20 economies rebounded with double-digit numbers in the third quarter after double-digit falls in the second quarter. GDP in India rebounded strongest, by 21.9 percent, following a fall of 25.2 percent in the second quarter, the sharpest drop ever recorded, said the OECD in its press release.

GDP also rebounded in France (by 18.7 percent, following a contraction of 13.8 percent), Italy (by 15.9 percent, after minus 13.0 percent), Turkey (by 15.6 percent, after minus 10.8 percent), the United Kingdom (by 15.5 percent, after minus 19.8 percent), South Africa (by 13.5 percent, after minus 16.6 percent) and Mexico (by 12.1 percent, after minus 17.0 percent).

G20 economy rebounds in Q3, still below pre  第2张

A giant Christmas tree is seen at the Lafayette department store during its first reopening day in Paris, France, Nov. 28, 2020. (Xinhua/Gao Jing)


 
Other major economies also saw their economies grow in the third quarter, 8.9 percent in Canada; 8.5 percent in Germany; 7.7 percent in Brazil; 7.4 percent in the United States; 5.3 percent in Japan; 3.3 percent in Australia; 3.1 percent in Indonesia; 2.1 percent in South Korea and 1.2 percent in Saudi Arabia.

"GDP in the G20 area as a whole remained significantly below the levels of the same quarter a year earlier (minus 2 percent), with only Turkey and China recording positive growth of 5.4 percent and 4.9 percent, respectively, while the United Kingdom experienced the largest fall (minus 9.6 percent)," said the statement.



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