Global Economic Forecasts Q1 2021

Global Economic Forecasts Q1 2021

The overall outlook is more optimistic in Q1 2021, with significantly lower downside risks

Euromonitor International Analytics offers precise answers to vital business questions in an increasingly fast-paced and uncertain world. Our Macro Model provides regularly updated forecasts and “what-if ” scenarios for core macroeconomic variables, including gdp, growth and unemployment. Its global scope ensures our macro forecasts and scenarios reflect the economically inter-connected world in which we live.

The Global Economic Forecasts report focuses on quarterly macro changes for the world’s key economies and what these mean to our view of the likely, optimistic and pessimistic scenarios for the global economy. Ultimately, we help businesses stay ahead of risks and opportunities as they emerge on a macroeconomic basis.

The global recession of 2020 was milder than expected with global real gdp in 2020 contracting by 3.6% (1.1 percentage points better than expected in the last quarterly report). This mainly reflects a faster than expected recovery in advanced economies in q3from the initial covid-19 wave lockdowns, followed by a more moderate than expected economic impact of the second pandemic restrictions in q4 2020. Many economies especially in Europe are still subject to significant social distancing and economic activity restrictions in q1 2021, however the global economic outlook has nevertheless substantially improved since the end of 2020.

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