UN raises global economic forecast to 5.4% growth in 2021
EDITH M. LEDERER, Associated Press
May 12, 2021
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FILE - In this April 21, 2021, file photo, visitors attend the Shanghai Auto Show in Shanghai. The United Nations has responded to the rebounding Chinese and U.S. economies by revising its global economic forecast upward to 5.4% for 2021. But it warned that surging COVID-19 cases and inadequate availability of vaccines in many countries threaten a broad-based recovery.Ng Han Guan/AP
UNITED NATIONS (AP) The United Nations on Tuesday responded to the rebounding Chinese and U.S. economies by revising its global economic forecast upward to 5.4% growth for 2021, but it warned that surging COVID-19 cases and inadequate availability of vaccines in many countries threaten a broad-based recovery.
UN raises global economic forecast to 5.4 percent growth in 2021
For 2022, the U.N. forecast that the global economy will grow by about 4.7% is higher than the IMF’s projection of 4.4%.
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| A+A A- By Associated Press
UNITED NATIONS: The United Nations on Tuesday responded to the rebounding Chinese and U.S. economies by revising its global economic forecast upward to 5.4% growth for 2021, but it warned that surging COVID-19 cases and inadequate availability of vaccines in many countries threaten a broad-based recovery.
In raising its projection from January of 4.7% growth, the U.N.’s mid-2021 World Economic Situation and Prospects report pointed to the rapid vaccine rollout in a few large economies led by the U.S. and China and an increase in global trade in merchandise and manufactured goods that has already reached its pre-pandemic level.
Read more about United Nations raises global economic forecast to 5.4% growth in 2021 on Business Standard. UN warned that surging Covid cases and inadequate availability of vaccines threaten a broad-based recovery
UNITED NATIONS The United Nations on Tuesday responded to the rebounding Chinese and U.S. economies by revising its global economic forecast upward to 5.4% growth for 2021, but it warned that surging COVID-19 cases and inadequate availability of vaccines in many countries threaten a broad-based recovery. In raising its projection from January of 4.7% growth, the UN s mid-2021 World Economic Situation and Prospects report pointed to the rapid vaccine rollout in a few large economies led by the U.S. and China and an increase in global trade in merchandise and manufactured goods that has already reached its pre-pandemic level. But the UN cautioned that this will unlikely be sufficient to lift the rest of the world s economies, and the economic outlook for the countries in South Asia, sub-Saharan Africa and Latin America and the Caribbean remains fragile and uncertain.
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Pic: Shutterstock While the global growth outlook has improved, led by robust rebound in China and the US, surging COVID-19 infections and inadequate vaccination progress in many countries threaten a broad-based recovery of the world economy, says the latest United Nations forecast. The widening inequality casts a shadow over projected 5.4 per cent global growth in 2021.
According to the World Economic Situation and Prospects (WESP) mid-2021 report, following a sharp contraction of 3.6 per cent in 2020, the global economy is now projected to expand by 5.4 per cent in 2021, reflecting an upward revision from the UN forecasts released in January this year.