Western Europe dragged ‧ G20 growth of 0.5% from the final quarter


Economic Cooperation and Development (OECD) published the world's leading 20 economies (G20) gross domestic product (GDP) expanded by 0.5% in the fourth quarter of last year. Increase not as good as last year's third quarter, slowdown due to the recession of Western European countries.
International Energy Agency (IEA) said, the weak global economy this year will curb global oil demand this year. IEA describe the deterioration of business confidence in China, and economic slowdown in Europe, the U.S. budget cuts, the future is uncertain for the three major economic shocks, and amount of daily oil demand growth in 2013 revised to 2 million barrels a day to 82 million barrels.
The OECD said last year's fourth quarter of the G20 the overall GDP growth of 0.5% over the previous quarter, down slightly from 0.6% in the third quarter. For the full year 2012, G20 overall GDP expansion of 2.8%, also lower than the 3.8% in 2011.

By HPCforex.