India growth increased strongly in Q4: IMF

March 14th, 2012 - 10:25 pm ICT by IANS  

Washington, March 14 (IANS) 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 percent in the fourth quarter of 2011 compared with +0.9 percent 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 percent, a marked deceleration compared with the +5 percent 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 percent to +1.8 percent and from +1.4 percent to +2.1 percent respectively.

However, in terms of annual percentage change and percentage change on the same quarter of the previous year, India’s growth rate fell from 7 percent in the third quarter to 6.5 percent in the fourth quarter.

In the United States, GDP growth increased to +0.7 percent in the fourth quarter of 2011 compared to +0.5 percent in the third quarter, but slowed in China to +2.0 percent compared to +2.3 percent in the third quarter.

In Japan, economic growth decreased to -0.2 percent, following the strong rebound (+1.7 percent) in the third quarter. GDP fell by
-0.3 percent in both the European Union and the Euro area in the fourth quarter of 2011, the first fall since the second quarter of 2009.

(Arun Kumar can be contacted at arun.kumar@ians.in)

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