This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/business/518491-un-raise-global-economy-forecast/
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| UN raises global economic growth outlook on increased US consumer spending | UN raises global economic growth outlook on increased US consumer spending |
| (6 months later) | |
| Global economic growth will accelerate faster than expected this year, according to renewed data announced by the United Nations Conference on Trade and Development (UNCTAD). | Global economic growth will accelerate faster than expected this year, according to renewed data announced by the United Nations Conference on Trade and Development (UNCTAD). |
| UNCTAD expects the global economy to grow by 4.7% in 2021 compared to the previously forecast 4.3%. | UNCTAD expects the global economy to grow by 4.7% in 2021 compared to the previously forecast 4.3%. |
| “The global recovery that began in the third quarter of 2020 is expected to continue through 2021, albeit with a good deal of unevenness and unpredictability, reflecting epidemiological, policy and coordination uncertainties,” the report titled, ‘Out of the frying pan… into the fire?’ reads. | “The global recovery that began in the third quarter of 2020 is expected to continue through 2021, albeit with a good deal of unevenness and unpredictability, reflecting epidemiological, policy and coordination uncertainties,” the report titled, ‘Out of the frying pan… into the fire?’ reads. |
| The upwards revision from its previous outlook that was made in September is based on a projected increase in US consumer spending attributed to the latest progress in the distribution of Covid-19 vaccines. The agency also cites the vast stimulus package recently adopted by the US government as one of the factors. | The upwards revision from its previous outlook that was made in September is based on a projected increase in US consumer spending attributed to the latest progress in the distribution of Covid-19 vaccines. The agency also cites the vast stimulus package recently adopted by the US government as one of the factors. |
| According to the report, the long-lasting impact of Covid-19 will require continued government support. The UN highlights that a “misguided return to austerity” poses a major risk to global economic prosperity. | According to the report, the long-lasting impact of Covid-19 will require continued government support. The UN highlights that a “misguided return to austerity” poses a major risk to global economic prosperity. |
| Worldwide lockdowns tied to the coronavirus pandemic brought on a 3.9% drop in output, the agency’s estimates show. | Worldwide lockdowns tied to the coronavirus pandemic brought on a 3.9% drop in output, the agency’s estimates show. |
| The organization also said that the economic consequences of Covid are exorbitant, while the destruction of income is on an unprecedented scale with people in developing countries particularly hard hit. | The organization also said that the economic consequences of Covid are exorbitant, while the destruction of income is on an unprecedented scale with people in developing countries particularly hard hit. |
| Earlier, the Organization for Economic Co-operation and Development (OECD) also published an upwards projection, raising the expected economic growth this year from 4.2% to 5.6%. | Earlier, the Organization for Economic Co-operation and Development (OECD) also published an upwards projection, raising the expected economic growth this year from 4.2% to 5.6%. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |
| Dear readers and commenters, | |
| We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system. | |
| Sorry for the inconvenience, and looking forward to your future comments, | |
| RT Team. |