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G20 output stagnating

in International Business

G20 output stagnating

According to data compiled by the Organization of Economic Cooperation and Development (OECD), the G20 group of leading world economies’ GDP grew at an annual rate of 3% in the second quarter, compared with 3.2% in the first quarter.

Officials from the G20 are meeting in Mexico City to discuss the issue.

The leading economies have to act to moderate the impact of high food prices on households whose incomes are stagnating and shrinking due to economic slowdown.

Drought has reduced harvests in North America whilst Russian grain exports have also fallen, pushing up global prices.


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