GDP growth accelerated in the second quarter, according to the latest data from the Organization for Economic Cooperation and Development (OECD).
The OECD reports that GDP in the G20 area grew by 0.9% in the second quarter, compared with 0.6% in the previous quarter, according to preliminary estimates. It notes that growth accelerated in most of the world’s largest economies, but slowed marginally in Canada and Japan, and slowed significantly in Mexico.
Among OECD G20 economies, Turkey recorded the strongest growth at 2.1%, it says, compared with 1.5% in the previous quarter. Growth in Korea ranked second with GDP growth of 1.1%, compared with 0.8% in the previous quarter.
In the UK and U.S., GDP growth accelerated to 0.7% and 0.6%, respectively, the OECD reports; and this is compared with 0.3% growth in the previous quarter. Growth also accelerated in France, Germany, Brazil, South Africa, India and China.
Compared with the same quarter of 2012, GDP for the G20 area expanded by 2.6% in the second quarter of 2013, up from 2.2% in the previous quarter, it adds.