GDP growth for the G20 countries slowed during the final quarter of 2011, with “diverging patterns among the world’s largest economies”.
Growth slowed to 0.7% during the final three months of the year, down from 0.9% in the third quarter, according to the Inter Agency Group on Economic and Financial Statistics.
As as a whole, G20 GDP rose by 2.8% during 2011, dropping from the 5% growth reported in 2010.
The US economy grew by 0.2% to 0.7% between the third and fourth quarters, while both India and Indonesia grew strongly.
However, a slowdown in the Chinese and Japanese economies were reported, while the eurozone and EU27 areas both saw GDP fall by 0.3% in the final quarter.
The Inter Agency Group comprises of the International Monetary Fund, Bank for International Settlements, European Central Bank, Eurostat, OECD, United Nations and the World Bank.