Because of COVID-19, we know 2020 was tough economically around the world. Let’s now take a look at an early 2021 forecast of the global economy — and beyond. The potential for a strong rebound exists.
Related posts involving 2020:
- Projecting Scenarios in a COVID-19 World
- Has Global Business Peaked?
- How to Survive a Financial Crisis According to Entrepreneurs
- E-Commerce Is Booming
- How Some Service Firms Are Adapting Virtually
- Planning for the New Normal
From Euromonitor: An Early 2021 Forecast of the Global Economy
Recently, Euromonitor produced a new report on the worldwide economy. [Note: To access a free 30-page summary, click on the preceding link.] The report indicates good news ahead.
According to Euromonitor:
We expect global real GDP growth in 2021 to reach 5.3%. With a plausible baseline forecast range of 4.3–6.3%. The global recovery should continue in 2022 with real GDP growth of around 4%. Under the baseline forecast, the global economic recovery in 2021–2022 will still leave global real GDP 3.7% below the pre-pandemic forecast.
The overall outlook is more optimistic in q1 2021. With significantly lower downside risks. The baseline forecast and a more optimistic scenario with 2021 real GDP growth of 6.3–7.8% now merit around 60% probability. As compared to around 51% probability in the q4 scenarios outlook. With a corresponding decline in pessimistic scenario probabilities. We assign the baseline forecast a 45–55% probability
For the following infographic, Evans on Marketing extracted material from different Euromonitor charts. The infographic separates the world into advanced economies and developing/emerging economies. Including a look at several individual countries.