Glance: Economic growth around the world

The recession in the 17-country eurozone ended in the second quarter of the year. Its growth is weak, however, and lags the rates of other major developed economies.

Here are the quarter-on-quarter growth rates for the world’s largest economies:

Country Q2 growth vs Q1 Explanation
United States 0.4 Steady growth, though jobs gains still patchy
China 1.7 High growth but slowing as govt tries to rein in easy credit market
Japan 0.6 More government spending, weaker yen has boosted growth
Eurozone (17 countries) 0.3 Less focus on debt cuts, ECB support have ended recession but recovery seen weak
European Union (28 countries) 0.3 Recovering slowly as trade with eurozone improves slightly
Germany 0.7 Enjoying stronger exports, economic confidence
France 0.5 Improvements in consumer spending
United Kingdom 0.6 Increase in manufacturing activity and housing market
Italy -0.2 Financial crisis has forced steep spending cuts, but confidence stabilizing
Sources: Eurostat, National Bureau of Statistics of China

Comments are closed.