PARIS, Dec. 14 (Xinhua) — China’s financial progress rose to 1.3 p.c within the third quarter (Q3) of 2023, in comparison with 0.5 p.c within the earlier quarter, the Organization for Economic Co-operation and Development (OECD) stated on Thursday.
According to the OECD’s provisional estimates, China, the United States and Mexico had been the one three international locations among the many G20 to realize constructive progress final quarter.
Italy’s progress recovered to 0.1 p.c in Q3, following a contraction of 0.4 p.c in Q2. Meanwhile, progress in South Korea remained secure at 0.6 p.c, the OECD stated.
The group stated that progress weakened within the remaining G20 international locations, specifically in Saudi Arabia and Türkiye, on account of a robust lower in oil actions, and a lower in non-public consumption.
After rising within the earlier quarter, GDP contracted in Japan by 0.7 p.c, in Canada by 0.3 p.c, in South Africa by 0.2 p.c and by 0.1 p.c in Germany and France, the OECD added.
GDP within the G20 space grew by 2.9 p.c in Q3, down from 3.6 p.c within the earlier quarter, the OECD stated.
The G20 international locations signify round 85 p.c of world GDP, over 75 p.c of world commerce and round two-thirds of the world’s inhabitants.