Economic growth for the G20 slowed slightly in the fourth quarter, according to new data from the Organization for Economic Co-operation and Development (OECD).
The OECD reports that quarterly gross domestic product (GDP) in the G20 area grew by 0.8% in the fourth quarter of 2013, down from 0.9% in the previous quarter, according to preliminary estimates.
For the full year, GDP expanded by 2.8% in the G20 area, it says, compared with 2.9% in 2012.
For Canada, GDP growth remained unchanged at 0.7% in the fourth quarter, and it was also flat for Japan at 0.2%. Among the G20 economies, China recorded the strongest growth in Q4, the OECD says, at 1.8%, although this is down notably from 2.2% in the previous quarter.
Quarterly growth also slowed in the U.S., UK, and Korea, the OECD reports; but it increased in France, Germany and Italy. GDP growth also accelerated in South Africa and Australia, and it rebounded from a contraction to record positive growth in Brazil, it adds.
Compared with the same quarter of 2012, GDP growth for the G20 came in at 3.3% in the fourth quarter, the OECD also reports, which is up from 2.9% in the previous quarter. Again, China recorded the highest growth rate (7.7%), whereas Italy suffered the largest contraction.