GDP in the G20 area grew by 0.9% quarter-on-quarter in the first quarter of 2024. The economic performance was mainly driven by China and India.
Türkiye saw the highest growth at 2.4% in Q1 2024, followed by India (1.9%), China (1.6%), Saudi Arabia (1.4%), Korea (1.3%), and Indonesia (1.2%). Growth recovered in Saudi Arabia after a contraction in Q4 2023.
The United States saw a slowdown, with GDP growth dropping to 0.3% in Q1 from 0.8% in Q4 2023. Japan and South Africa experienced contractions in Q1, while Brazil, the United Kingdom, and Germany recovered.
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