The Straits Times
Published on Sep 13, 2012

G-20 economies slow, euro zone contracts in quarter: OECD


PARIS (AFP) - Economic growth in the top G-20 countries slowed to 0.6 per cent in the second quarter of 2012 from 0.7 per cent in the first quarter, with slow and weak growth set to continue, the OECD said on Thursday.

The Chinese economy picked up but output in the euro zone, Japan and South Korea slowed sharply. Britain and Italy also showed shrinking output data.

Some emerging economies showed relatively resilient growth, the data showed.

The easing for the G-20 (Group of 20) area marks the third quarter running of slowing growth but "masks diverging patterns," with a moderate slowing in the United States and contraction in the euro zone, the Organisation for Economic Cooperation and Development said.