PARIS: The OECD raised its 2021 global GDP growth forecast on Monday, but warned that “too many headwinds persist” as not enough Covid vaccines are reaching emerging economies and.
May 31, 2021 Share
FRANKFURT, Germany The global economic rebound from the pandemic has picked up speed but remains uneven across countries and faces multiple headwinds. Most worrisome: the lack of vaccines in poorer nations, which could lead to new virus variants and more stop-and-go lockdowns.
Those were key points from the latest economic outlook published Monday by the Paris-based Organization for Economic Cooperation and Development.
The OECD said that relief and stimulus measures in the more developed world had done much to get the economy through the pandemic recession and back on the path of growth. It forecast global output would rise 5.8%, raising its forecast from 4.8% during its previous outlook in December. This year’s predicted rebound follows last year’s contraction of 3.5%, and would be the fastest since 1973.
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Indiaâs economy showed momentum before virus crisis hit home
Gross domestic product rose 1.6% from a year earlier in the three months ended March, the Statistics Ministry said Monday.
By Vrishti Beniwal, Bloomberg
1 Jun 2021 08:23
Image: Sumit Dayal/Bloomberg
Indiaâs economy expanded faster than expected last quarter before a resurgent coronavirus pandemic unleashed a new wave of challenges.
Gross domestic product rose 1.6% from a year earlier in the three months ended March, the Statistics Ministry said Monday. That was faster than the 1% median estimate in a Bloomberg survey of economists.
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