After contracting by 3.1% in 2020, global real GDP is predicted to increase by 5.7% in 2021 and by 4.6% in 2022. The global economic outlook at the end of 2021 is mainly constrained by different mismatches: an ongoing mismatch between consumer demand and the availability of certain services, due to shifts in COVID-19 infections and restrictions, and a mismatch between the speed of recovery in demand and the rebound in global supply.
This report comes in PPT.
After contracting by 3.1% in 2020, global real GDP is predicted to increase by 5.7% in 2021 and by 4.6% in 2022. The global economic outlook at the end of 2021 remains constrained by an ongoing mismatch between consumer demand and the availability of certain services, due to shifts in COVID-19 infections and restrictions, and a mismatch between the speed of recovery in demand and the rebound in global supply.
US economic output has recovered to its pre-pandemic Q4 2019 level, though it remains below the pre-pandemic forecast level at the end of 2021. The real GDP growth forecast has been significantly downgraded since mid-2021 to 5.5% in 2021 and 4.3% in 2022, due partly to the emergence of another pandemic wave with the more infectious Delta variant in a population where more than 40% remain unvaccinated.
China’s economy has slowed down substantially since the beginning of 2021. Real GDP growth for 2021 is still projected to reach 8%, due to the earlier strong recovery from the initial COVID-19 pandemic shock in 2020; however, real GDP in Q3 was just 4.9% above its level a year earlier, with even slower growth in the industry and construction sectors. Real GDP growth is expected to slow to 5.5% in 2022 and 5.2% in 2023, with a longer term annual growth rate for the decade of 4.4%.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!