Europe leads slowdown in G-20 growth in Q4

LONDON (AP) ? Official figures show economic growth in the Group of 20 leading industrial and developing economies slowed in the final three months of 2011 as the European Union contracted due to its debt crisis.

In the first joint release to cover the entire G-20, the International Monetary Fund and the OECD think-tank said G-20 growth as a whole fell to a quarterly rate of 0.7 percent in the fourth quarter from 0.9 percent in the previous quarter.

Indonesia had the fastest growth at 2.1 percent. The 27-country EU, shaken by financial turmoil among many of its members, posted the biggest quarterly fall at 0.3 percent. The U.S. grew 0.7 percent, up from 0.5 percent in the previous quarter.

The G-20 growth figure was based on previously-published information for the individual economies.

Source: http://news.yahoo.com/europe-leads-slowdown-g-20-growth-q4-130810495.html

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