The world’s top countries in the year-on-year economic growth figures have been revealed, and the countries of the Nordic countries are the biggest winners.
The United States saw its GDP grow by 2.2% in the third-quarter, the European Union by 1.9%, Germany by 1% and Japan by 0.9%.
The United Kingdom was the only other country to fall behind the US in terms and saw GDP fall by 1%.
The Eurozone grew by 0% in third quarter, and France by 1%, the Eurozone as a whole by 1 and the UK by 0%.
The US saw a 4.1% drop in the fourth quarter, Germany by 4.2%, France by 2%, the European Community by 3.5%, and Japan 1.4%.
The UK economy was the fastest-growing in the entire world in the quarter, by 7.9% and the eurozone was the second-fastest-growing, by 6.4%, the World Bank said.
The US grew by 7%.
The World Bank expects the eurozone to continue its rapid recovery by the end of this year.
The UK was also the only European country to grow in terms, by 0%, while Germany grew by 1 percentage point.
Japan was the world’s fastest-rising economy, rising by 2% to 7.7% in terms.
The US had the fastest growth in terms in the three months to end March, by 5.3%.
The European Union had the lowest growth, at 0.4% in 2019, while Germany had the second lowest growth of 0.2%.
Japan was a top performer in terms for 2019, with growth of 6.2 percent, the EU was second at 6.1%.
The third quarter was the first time that the European economy grew more than the global economy since the global financial crisis, the Bank said in a statement.
The IMF expects the global economic recovery to be modest this year and a partial recovery is unlikely, it said.
The bank added that a fall in oil prices had impacted the global oil market.
The global economic growth was driven by an increase in demand for food and fuel, but was offset by a slowdown in growth in China and the United States, the bank said.
In the second quarter, the IMF said it expected global economic output to grow by 0,1 percentage points, a 0.1 percentage point fall from the first quarter.
In 2019, global economic GDP rose by 2,1%, while the world as a group grew by 2%.