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05 July 2020 The on-line newspaper devoted to the world of transports 19:47 GMT+2



June 11, 2020

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Original news
In the first quarter of this year, gross domestic product G20 area decreased by -3.4%

The largest contractions in GDP were recorded by China (-9.8%), France (-5.3%) Italy (-5.3%)

In the first quarter of this year, due to the introduction of worldwide of pandemic containment measures Covid-19, the real gross domestic product in the G20 area is decreased by -3.4%. This was announced today by the Organisation for Cooperation and Economic Development (OECD) emphasizing that, on based on provisional estimates, this is the most significant gdp contraction since the beginning of the historical series in 1998, so much that, for example, in the first quarter of 2009, at the height of financial crisis, gross domestic product had fallen by only -1,5%.

Among the G20 economies, in the first quarter of 2020, among the first, they have introduced strict measures to block activity recorded the largest declines in GDP, China fell by -9.8% and in France and Italy it fell by -9.8% down -5.3% in both countries. The GDP is Germany (-2.2%), Canada (-2.1%) also fell sharply. And United Kingdom (-2.0%), followed by Brazil (-1.5%), the United States and Korea (-1.3% in both countries) and Mexico (-1.2%). The contraction indonesia (-0.7%), Japan (-0,6%) Australia (-0.3%).
India (0.7%) Turkey (0.6%) were the only two G20 economies to show positive growth.

On an annual basis, GDP in the G20 area fell by -1.5% in the first quarter of 2020, after a growth of 2.8% in the quarter. Among the G20 economies, Turkey has recorded the highest annual growth (4.4%), while China recorded the largest annual contraction (-6.8%).




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