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Global Economy in 2021: Outlook for Recovery and Potential Risks

Global Economy in 2021: Outlook for Recovery and Potential Risks

By Daniel Solomon, Senior Economist, Economies and Consumers and Giedrius Stalenis, Economist, Economy, Finance and Trade

Global baseline outlook: Partial global recovery expected in 2021

Global real GDP is expected to contract by 4.7% in 2020 (with a plausible range of 4.2-5.2% decline), followed by 5.1% growth in 2021 (with a plausible range of 3.5-6.5%).The end of 2020 is seeing the emergence of regional second waves especially in Europe and North America. The Eurozone and UK economies have had to resort to new lockdown measures to control fast-rising infection rates. The baseline forecast assumes these second waves are contained in Q4 2020, and widespread vaccine deployment around mid-2021.

 

The article is property of Euromonitor International, a market research provider, and can be read in full through:https://go.euromonitor.com/webinar-economies-201210-global-economy-2021.html

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EUROMONITOR INTERNATIONAL