Growth in India and Indonesia increased strongly, increased modestly in the United States, but slowed somewhat in China even as overall growth in the G20 slowed in the fourth quarter of 2011, according to the International Monetary Fund.
The G20 quarterly gross domestic product (GDP) growth of +0.7% in the fourth quarter of 2011 compared with +0.9% in the third quarter, according to provisional results from this first time release of the G20 GDP aggregate.
In 2011 as a whole, G20 GDP rose by +2.8%, a marked deceleration compared with the +5% growth recorded in 2010.
The G20 GDP aggregate masks diverging patterns among the world's largest economies, IMF said, noting that in India and Indonesia growth increased strongly from +0.9% to +1.8% and from +1.4% to +2.1% respectively.
However, in terms of annual%age change and percentage change on the same quarter of the previous year, India's growth rate fell from 7% in the third quarter to 6.5% in the fourth quarter.
In the United States, GDP growth increased to +0.7% in the fourth quarter of 2011 compared to +0.5% in the third quarter, but slowed in China to +2.0% compared to +2.3% in the third quarter.
In Japan, economic growth decreased to -0.2%, following the strong rebound (+1.7%) in the third quarter. GDP fell by -0.3% in both the European Union and the Euro area in the fourth quarter of 2011, the first fall since the second quarter of 2009.