The Corona crisis also hit the GDP of the world’s major economies for the second consecutive quarter. India made the second worst performance in major economies in the July – September quarter. India’s GDP fell 7.5 per cent in the September quarter, but better than the 23.9 per cent decline in the June quarter. All major economies in the world, including China’s second largest, continue to struggle with the COVID-19 epidemic and lockdown. In the July-September quarter of 2020, China’s economy grew 4.9 percent. The second quarter was similar to that of other major economies.
Britain
The UK performed very badly in the second quarter. In major economies, the UK’s GDP fell by 9.6 per cent during this period. The UK is in the midst of a recession, with a third consecutive quarter of decline. The British economy declined by 21.7 per cent in the April-June quarter of 2020.
Q2 GDP: The challenges of basic industries continue to improve amidst the reform of the economy
Japan
The recession in the Japanese economy reached 5.8 percent in July-September. Following the 1980 global financial crisis, the Japanese economy recorded a 9.9 percent decline in the April-June quarter.
Italy
Italy’s GDP fell 4.7 percent in the second quarter. If we talk about the April-June quarter of 2020, its GDP is the lowest since 1995 Q1. Italy’s GDP for the first quarter rose to a record 17.7 percent, a record low.
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| Country | The September quarter | June quarterly |
| Britain | -9.6 | -21.7 |
| India | -7.5 | -23.9 |
| Japan | -5.8 | -9.9 |
| Italy | -4.7 | -17.7 |
| France | -4.3 | -18.9 |
| Germany | -4 | -11.3 |
| America | -2.9 | -9.1 |
| China | 4.9 | 3.2 |
Source: Business Today, Percentage Statistics
France
France’s GDP declined 4.3% in the July-September quarter of 2020. It fell 18.9 per cent in the previous quarter.
Germany
Germany’s GDP fell by 11.3 percent in the previous quarter. Germany’s GDP fell 4 percent in the second quarter, the lowest since the country’s statistics office discovered quarterly economic data more than half a century ago.
America
US GDP fell 9.1 percent in the April-June quarter. At the same time, in the September quarter, the United States GDP fell by 2.9 percent. In the September quarter of 2020, US real GDP grew at an annualized rate of 33.1 percent (quarterly rate of 7.4 percent).
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