OECD hikes global growth forecast as vaccines roll out The huge US stimulus package is also a factor that has the group seeing 5.6% growth in 2021 and 4% in 2022 09 March 2021 - 17:32 Leigh Thomas Picture: 123RF/POP NUKOONRAT
Paris The global economic outlook has brightened as Covid-19 vaccine rollouts speed up in some countries and the US launches a vast new stimulus package, the Organisation for Economic Co-operation and Development (OECD) said on Tuesday, hiking its forecasts.
The world economy is set to rebound in 2021 with 5.6% growth and expand 4.0% in 2022, the OECD said in its interim economic outlook.
This marked a sharp increase from its last outlook in early December 2020, when the Paris-based policy forum forecast global growth of 4.2% for 2021 and 3.7% for 2022.
Read more about Nasdaq drops at open as US stimulus fuels inflation jitters on Business Standard. The Nasdaq Composite dropped 15.9 points, or 0.12%, to 12904.264 at the opening bell
Brent crude settled at $63.69 a barrel, falling 73 cents, or 1.1%, and U.S. West Texas Intermediate (WTI) crude settled at $60.64 a barrel, losing 86 cents, or 1.4%