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Two of the world’s five advanced economies reported growth in the January-March quarter (Q1 CY24).
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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