Thu Sep 12 10:06:56 UTC 2024: ## G20 Economic Growth Slows Slightly in Second Quarter

**Paris, France** – The global economy, as represented by the G20, saw a slight easing in growth during the second quarter of 2023, according to data released by the OECD on Thursday. The GDP for the G20 area increased by 0.7% quarter-on-quarter, down from 0.8% in the first quarter.

Despite the slowdown, key economies like China, India, and the United States contributed significantly to overall growth. China’s economy grew by 1.5% in the second quarter, while India’s growth slowed to 1.3%. The US recorded a modest increase, with GDP expanding by 0.7%.

While Brazil and Saudi Arabia saw the fastest growth rates at 1.4% each, Japan experienced a significant recovery from a contraction in the first quarter, posting a 0.7% growth in the second quarter.

However, not all G20 members saw positive results. Korea’s economy contracted by 0.2% and Germany’s by 0.1% during the second quarter.

Looking at annual growth rates, India led the G20 with a 6.8% increase in the second quarter, followed by Indonesia at 5.0%. Japan saw the largest decline, with GDP shrinking by 0.9% year-on-year.

The OECD data highlights a mixed picture for the global economy. While growth continues, the slowdown in some key economies suggests potential challenges ahead.

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