Sunday, June 3, 2012

GDP of the big twenty-up in 2011 grew by only 2.8%

The combined GDP of the "Big Twenty" (G20) on the basis of 2011 grew by only 2.8%, significantly slowed down compared with last year. Tempv growth in 2010 amounted to 5.0%. These statistics - the first of its kind - March 14, announced the Organization for Economic Cooperation and Development (OECD) and International Monetary Fund (IMF). Fastest growing in the G20 countries in the past year the Chinese economy (plus 9.2%), India (7.3%) and Saudi Arabia (6.8%) and negative dynamics was noted only Japan (minus 0.7%).
In the IV quarter of 2011 economic growth in the G20 was 0.7% qoq - against 0.9% in the III quarter. In the aggregate indicator hides mixed picture of national economies, the authors report. For example, U.S. GDP increased by 0.7% in the IV quarter of 2011 compared to 0.5% in the III quarter. Significantly accelerated growth in India (from 0.9% in the III quarter to 1.8% in the IV quarter) and Indonesia (from 1.4% to 2.1%), but has slowed in China (from 2.3% to 2 %). In Japan, there was a downturn of 0.2% after growth of 1.7% in the III quarter. GDP of the EU fell by 0.3% (0.3% in quarter III), which was the first time with the II quarter of 2009.
Aggregate statistics on the GDP of the G20 is issued for the first time in an international initiative to address the data gaps (Data Gaps Initiative), agreed by ministers of finance and central bank control of the "twenty". The process is coordinated by an interdepartmental group on economic and financial statistics, which consists of representatives of the IMF (Chairman), Bank for International Settlements, European Central Bank, the EU statistical agency Eurostat, OECD, UN and World Bank.
In early March 2012 the IMF said the weakening of the threat of sharp slowdown in the global economy. The reason for this decision Foundation sees the measures taken to exit from the eurozone debt crisis, but the organization warned that global growth is moving "downward".
The World Bank also expects the global slowdown in 2012 against the backdrop of European debt problems. World Bank predicts that the global economy will grow only by 2.5% in 2012 (although in the June report voiced forecast at 3.6%). In 2013, global growth is expected to reach 3.1%.
According to the UN the growth of world gross domestic product (GDP) in 2012 may slow down dramatically, if not taken the necessary measures to create jobs and prevent the growth of the sovereign debt of countries. At the end of last year, the UN adjusted the outlook for the world economy in 2012 downward. The report noted that Europe's problems, coupled with the economic downturn in the U.S. could lead to global recession.
Figures for G20 calculated using data from the European Union, Australia, Argentina, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, UK and USA. In a report published today in Russia there are no data for the IV quarter of 2011.
At the G20 in GDP growth in 2012 could significantly affect the economic slowdown in China's development. Thus, the largest Japanese broker Nomura on Tuesday improved assessment of China's GDP growth this year from 7.9% to 8.2%. Forecast growth in the first quarter of 2012 revised to increase from 7.5% to 7.8%. Despite the observed in recent months, a sharp slowdown in China, the overall situation in the Chinese economy was better than expected, analysts said Nomura.
According to their estimates, the People's Bank of China (Central Bank of the country) will reduce the base interest rate by a quarter percentage point in March, and the bank reserve rate - by 0.5 percentage points in April to support economic growth.
Last week, China's State Council announced that it will strive to increase GDP by 7.5% this year, which is the lowest figure since 2004. In 2011, the pace of economic growth amounted to 9.2%, slowed down compared to 10.4% in 2010. In the recent years, Beijing is set to the economic growth of 8%

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