IMF: India Growth Increased Strongly in Q4


Washington: Growth in India and Indonesia increased strongly, increased modestly in the United States but slowed somewhat in China even as overall growth in the G20 slowed in the fourth quarter of 2011, according to the International Monetary Fund. The G20 quarterly Gross Domestic Product (GDP) growth of +0.7 percent in Q4 of 2011 compared with +0.9 percent in Q3, according to provisional results from this first time release of the G20 GDP aggregate. In 2011 as a whole, G20 GDP rose by +2.8 percent, a marked deceleration compared with the +5 percent growth recorded in 2010. The G20 GDP aggregate masks diverging patterns among the world's largest economies, IMF said, noting that in India and Indonesia growth increased strongly from +0.9 percent to +1.8 percent and from +1.4 percent to +2.1 percent respectively. However, in terms of annual percentage change and percentage change on the same quarter of the previous year, India's growth rate fell from 7 percent in Q3 to 6.5 percent in Q4. In the United States, GDP growth increased to +0.7 percent in Q4 of 2011 compared to +0.5 percent in Q3, but slowed in China to +2.0 percent compared to +2.3 percent in Q3. In Japan, economic growth decreased to -0.2 percent, following the strong rebound (+1.7 percent) in Q3. GDP fell by -0.3 percent in both the European Union and the Euro area in Q4 of 2011, the first fall since Q2 of 2009.
Source: IANS