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Two of the world’s five advanced economies reported growth in the January-March quarter (Q1 CY24).
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China’s gross domestic product (GDP) grew 5.3 per cent in Q1 CY24 compared to 5.2 per cent the quarter before (Q4 CY23). The UK grew 0.2 per cent after a negative growth rate in Q4 CY23, according to data from the Organisation for Economic Cooperation and Development (OECD).
The United States registered a growth of 3 per cent in Q1 CY24 compared to 3.1 per cent the quarter before, while Japan contracted by -0.4 per cent. And at -0.2 per cent, Q1 growth for Germany was flat (chart 1).
The OECD expects the US and China, the two largest economies, to slow down in 2025 (chart 2).
First Published: May 31 2024 | 5:49 PM IST
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