Economy
22:20 8 June 2021
Post by: WBJ

Global economic growth expected to perform best in over 40 years

Global economic growth expected to perform best in over 40 years
Source: Photo by Morgan Housel on Unsplash

Euromonitor International recently released its ‘Global Economic Forecasts: Q2 2021’ report focusing on quarterly macro changes for the world’s key economies and what these changes mean to the global economy.

According to Euromonitor International, the global economic outlook has improved since Q1 2021. Global real GDP growth in 2021 is now expected to be the fastest in more than 40 years, at 5.8 percent (a 0.5 percentage points upgrade relative to the Q1 forecast), followed by 4.5 percent growth in 2022 (a 0.4 percentage points forecast upgrade). The forecast upgrade is mainly driven by advanced economies, which are now expected to grow by 5.0 percent in 2021 (a 1 percentage point increase relative to the Q1 forecast) and by almost 4 percent in 2022 (a 0.7 percentage points forecast upgrade). In contrast, developing economies’ real GDP growth rate forecast for 2021-2022 has been raised by just 0.2-0.3 percentage points to 6.5 percent and 5.0 percent.

Eurozone real GDP is expected to grow by 3.9 percent annually over 2021-2022. This would still leave it 3 percent below the pre-pandemic forecast level in 2022. The Eurozone’s economic recovery has been slower than expected in early 2021 due to ongoing social distancing measures, a third coronavirus wave in the spring, and delays in vaccination campaigns in Q1.

(WBJ) 


gdp
global
euromonitor international

More News

lifestyle

LifeStyle
1 month ago

Doda Promises Emotions and Surprises at Polsat Hit Festival in Sopot

LifeStyle
1 month ago

New Culinary Concept Opens in Warsaw’s Kamionek District

LifeStyle
2 months ago

Mercedes-Benz Unveils Sleek New CLA with Electric Power and AI Tech

LifeStyle
2 months ago

Klaudia Zioberczyk Advocates for Minimalism Amidst Rising Modeling Career

Book of Lists

Book of Lists
4 years ago

The largest Polish companies under the Book of Lists microscope! Book of Lists 2020/2021 certificates have been awarded.

Book of Lists
5 years ago

25th jubilee edition of Book of Lists – project start