OECD: The G20 economy shows a strong recovery momentum in the third quarter
Xinhua News Agency, Paris, December 14 (Reporter Liu Fang) The Organization for Economic Cooperation and Development issued a communiqué on the 14th, stating that in the third quarter of this year, the Group of Twenty (G20) economy showed a strong momentum of recovery, and the overall GDP rose by 8.1 month-on-month. %, but it is still 2.4% lower than the level before the outbreak of the new crown in the fourth quarter of last year.
The communiqué stated that compared with the third quarter of last year, the overall economy of the G20 still shrank by 2%, and only Turkey and China achieved positive year-on-year growth, increasing by 5.4% and 4.9% respectively.
According to data released by the OECD, following the unprecedented decline in the economies of most G20 members in the second quarter of this year, the economies of most G20 members rebounded in the third quarter of this year, including India, France, Italy, Turkey, the United Kingdom, South Africa and Mexico. The quarter-on-quarter economic growth rate reached double digits.
According to the OECD, India’s economy shrank by 25.2% in the second quarter of this year, and its economy grew by 21.9% in the third quarter. Both the month-on-month decline and the month-on-month increase were the highest among G20 members.