GDP will grow by 6.2% in 2021: Atradius

The global economy is recovering, and the losses caused by the pandemic were recovered already in the second quarter of this year. In 2021, global GDP will increase by 6.2 percent, according to the latest study by Atradius Economic Research.

While the global number of Covid-19 cases is increasing as more infectious variants spread, public and economic sentiment is improving and the recovery in trade continues.

According to Atradius Economic Research, global trade in goods has surpassed pre-pandemic levels, with the 12-month moving average rising by 3.5 percent y/y in May 2021. This recovery is expected to continue in the near term, but it will slow down somewhat. At the same time, the risk of rising inflation remains high, especially in emerging markets. This forces central banks to tighten their monetary policy, which hampers the recovery and poses a threat to economic growth.

Due to the continuation of vaccinations and the good situation in Europe, in the coming months we can expect further restrictions to be lifted, and thus greater optimism among the society.

According to the European Mood Index (ESI), calculated by the European Commission, the mood of Europeans remains high. The indicator improved in July this year. and was 118.9, well above the neutral level of 100.

(PAP)