OECD raises 2021 global GDP growth forecast to 5.6% from 4.2% previously
OECD presents their latest economic forecasts, outlook
- 2021 global GDP forecast +5.6% (previously +4.2%)
- 2021 US GDP forecast +6.5% (previously +3.2%)
- 2021 Eurozone GDP forecast +3.9% (previously +3.6%)
- 2021 UK GDP forecast +5.1% (previously +4.2%)
The organisation also raises its 2022 global GDP growth forecast to 4.0% from 3.7% previously in December. The latest outlook projects a significant boost to the US and global economy, helped by Biden's $1.9 trillion stimulus package.
The report highlights that Europe risks falling behind in the global upswing with expectation for global output to rebound above pre-pandemic levels by mid-2021.