Global economic outlook Q2 2021: recovery takes off

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The global economic recovery is set to take off with growth of 5% this year after the pandemic-induced 3.8% contraction in 2020. Consequently, global GDP returns to pre-coronavirus levels in 2021, three to six months ahead of our previous expectation. However, economic recovery is asymmetric. Growth is driven by the US and Asia. European, Latin American and Middle Eastern economies are lagging. Inequity of vaccine access is a concern and will weigh on low-income economies that lack access.

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    Macro Outlook 2021Q2.pdf

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