Incorrect, in my opinion. The full picture - below - says something else (click to enlarge):
An analogy to explain the above is using 'motion' (in context of physics). In the above scenario, GDP represents distance, 1 year can be taken as 1 hour, GDP for a year is the speed, absolute GDP growth is an indicator of acceleration, while 'year-on-year change in absolute GDP growth' represents jerk (rate of change of acceleration). In this case, while the acceleration is positive, jerk is negative ('growth of growth of GDP' is slowing down).
PS: This thought was ongoing in my mind for many months, and I've finally written it today.