PARIS, Dec 12 (KUNA) -- Economic growth in the Group of 20 (G20) nations was stable at 0.7 percent in the third quarter when compared with the performance in the second quarter, the Organisation for Economic Cooperation and Development (OECD) said on Thursday.
In a statement, the OECD provisional estimates for "real Gross Domestic Product" in the 20 most advanced nations showed that while growth was stable overall, there were signs of a slowdown in the majority of the G20.
The statement said that there were significant drops in GDP progression in South Africa, whose economy contracted by 0.1 percent in the third quarter after growth of 0.8 percent in the second quarter.
South Korea's economy grew by only 0.4 percent compared with 1.0 percent in the previous quarter, while Turkey also recorded weaker growth of 0.4 percent, two and half times less than in the second.
Canada, China, Indonesia, Japan and Australia all had weaker growth in the third quarter than in the previous three-month period.
US, France and Italy showed stable growth between the two quarters, while India, Brazil Britain and Germany performed slightly better in the third quarter than in the second.
On an annual basis, GDP growth in the third quarter G20 has slipped to 2.9 percent compared with year-on-year performance of 3.0 percent in the preceding quarter.
There are concerns that trade tensions and the risk of a wider trade war between the US and China and the US and Europe could dampen economic activity, globally. (end) jk.mb