Global economic outlook Q3 2021: industry strains in reopening surge

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While the Covid-19 pandemic endures, the global economy is firmly in the recovery phase. We expect global GDP to bounce back 5.3% this year. But the global recovery is taking a breather as the reopening surge subsides in major economies. As the recovery phase matures, growth rates will slow – policy drags will emerge as emergency stimulus is withdrawn and monetary support is reined in. Global growth rates will drop back to pre-pandemic pace around 2.6% per annum in 2024.

Table of contents

  • Deeply uneven recovery
  • China is slowing
  • What can we expect from economic policy?
  • Industry: cracks appear
  • Risks to the outlook

Tables and charts

This report includes 9 images and tables including:

  • Disparate recoveries in major economies
  • Bifurcated vaccination rollout
  • Reopening surge surprises to upside
  • Employment lags economic recovery
  • Exports growth to slow
  • Special-purpose government bonds
  • Lead times lengthen amid buoyant orders
  • Industry absorbing higher costs
  • Global industry by sector

What's included

This report contains:

  • Document

    GDP Forecast Q3 2021.xls

    XLS 1.39 MB

  • Document

    Global economic outlook Q3 2021: industry strains in reopening surge

    PDF 894.61 KB