Economies forecast to recover in 2021
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All G20 countries except China are facing recession this year – reflecting
the global health crisis – but economic activity should pick up in 2021, according to the latest OECD Interim Outlook
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Real GDP* growth forecasts
(% year on year)

2020
2021
Group of Seven

China 1.8  8.0 
-1.0 South Korea 3.1
-2.9 Turkey 3.9
-3.3 Indonesia 5.3
-3.8 U.S. 4.0
-4.1 Australia 2.5 
-4.1 G20 5.7 
-4.5 World 5.0
-5.4 Germany 4.6
-5.8 Canada 4.0 
-5.8 Japan 1.5
-6.5 Brazil 3.6
-6.8 Saudi Arabia 3.2 
-7.3 Russia 5.0 
-7.9 Euro area 5.1
-9.5 France 5.8
-10.1 UK 7.6
-10.2 India 10.7 
-10.2 Mexico 3.0
-10.5 Italy 5.4
-11.2 Argentina 3.2 
-11.5 South Africa 1.4

-10 -8 -6 -4 -2 0
0 2 4 6 8 10 
           
World GDP 4.6 forecast to return to pre-pandemic level by Q3 2021

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*Real gross domestic product is an inflation-adjusted measure that reflects value of all goods and services produced by economy in given year
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  Source: OECD Interim Report September 2020 © GRAPHIC NEWS