OECD revises global forecast

The global economy will grow more strongly in 2021 than was expected, helped by the deployment of effective vaccines and a significant fiscal stimulus in the United States, the OECD reports


Real GDP* growth forecasts (% change year-on-year)
Dec 2020	Mar 2021	Group of Seven

		China		2.3    7.8    
-1.0 		South Korea	3.3
-2.1		Indonesia	4.9
-2.5		Australia	4.5
-3.4 		World		5.6
-3.5		U.S.		6.5
-3.6		Russia		2.7
-4.0		Saudi Arabia	2.6
-4.4		Brazil		3.7
-4.8		Japan		2.7
-5.3		Germany		3.0
-5.4		Canada		4.7
-6.8		Eurozone	3.9 
-7.2		South Africa	3.0	
-7.4		India		12.6
-8.2		France		5.9 
-8.9		Italy		4.1
-9.9		UK		5.1
-11.0		Spain		5.7

-12 -9 -6 -3 0			0 3 6 9 12
       

Joe Biden
U.S. President’s $1.9 trillion American Rescue Plan is predicted to boost global economic growth above pre-pandemic levels by mid-2021


*Real gross domestic product is an inflation-adjusted measure that reflects the value of all goods and services produced by an economy in any given year


Source: OECD Economic Outlook, March 2021 
Picture: Associated Press 
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