IMF leaves 2021 global GDP forecast at +6.0% with stronger US growth but weaker EM

The latest growth estimates from the IMF

• 2021 will be the strongest year since 1976
• 2022 GDP to 4.9% from 4.4%
• US growth to 7.0% vs 6.4% in April forecast; 2022 at 4.9% vs 3.5% prior
  
• Eurozone growth 4.6% vs 4.4% in April forecast; 2022 at 4.3% vs 3.8% prior
• Japan 2.8% vs 3.3% in April; 2022 3.0% vs 2.5% prior
• Canada 6.3% vs 5.0% prior; 2022 4.5% vs 4.7% prior
  
• China 8.1% vs 8.4% in April; 2022 at 5.7% vs 5.6% prior
  
• India 9.5% vs 12.5% in April; 2022 at 8.5% vs 6.9% prior
  
• UK 7.0% vs 5.3% in April; 2022 at 4.8% vs 5.1% prior
• Recent prices pressures reflect pandemic-related developments and transitory supply-demand mismatches
• New variants and lockdowns could shave 0.8 pp form 2021 and 2022 GDP growth
• Full report
  

The IMF said divergences in developed and emerging economies primarily reflects access to vaccines and continued fiscal support. The headline from the report was 'fault lines widen in the global recovery'.

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July 28, 2021 at 01:03AM
Adam Button
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