The U.S. will drive a sharp rebound in the world economy this year, but the strength of the American bounce could unbalance weaker economies, particularly in the developing world. According to the Organization for Economic Cooperation and Development, the rise in U.S. government bond yields in response to higher growth and inflation expectations could spark .
A global economic recovery is in sight but a faster and more effective vaccination rollout across the world is critical, while respecting necessary health and social distancing measures, according to the OECD’s latest Interim Economic Outlook. Activity in many sectors has picked up and adapted to pandemic restrictions over recent months. Vaccine deployment, although uneven, .
1 2021-03-10 09:38:08Xinhua
Editor : Li Yan
ECNS App Download Aerial photo shows a China-Europe freight train bound for Helsinki, Finland departing from Putian Station of Zhengzhou, central China s Henan Province, Nov. 20, 2020. (Xinhua/Hao Yuan)
Global gross domestic product (GDP) will grow at 5.6 percent this year if vaccination rollout is fast and effective enough across the world, the Organization for Economic Cooperation and Development (OECD) said Tuesday in its Interim Economic Outlook.
The forecast was 1.4 percentage points higher than the Paris-based organization s December prediction.
In its Interim Economic Outlook, the OECD predicted world output is expected to reach pre-pandemic levels by mid-2021 and the world economy is expected to grow by 4 percent in 2022 after a 5.6-percent growth in 2021.
EUR/USD Exchange Rate Steady as US Markets Await News on Stimulus
The Euro to US Dollar (EUR/USD) exchange rate held steady today, with the pairing currently fluctuating around $1.19.
US markets are awaiting the final verdict from the US House on President Joe Biden’s whopping $1.9 trillion stimulus package.
As a result, the USD/EUR exchange rate has held steady, with global markets remaining cautious as the stimulus plan arrives at its final critical stage.
OECD Chief Economist Laurence Boone commented:
‘This will not only boost the U.S. economy, but it will fuel global growth through increased demand in the U.S. and from the U.S. to the rest of the world.’
The global gross domestic product GDP will grow at 56 per cent this year if Covid19 vaccination rollouts are fast and effective enough across the world the Parisbased Organization for Economic Cooperation and Development OECD said