Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/235723 
Year of Publication: 
2021
Citation: 
[Journal:] DIW Weekly Report [ISSN:] 2568-7697 [Volume:] 11 [Issue:] 23/24 [Publisher:] Deutsches Institut für Wirtschaftsforschung (DIW) [Place:] Berlin [Year:] 2021 [Pages:] 162-166
Publisher: 
Deutsches Institut für Wirtschaftsforschung (DIW), Berlin
Abstract: 
Global recovery is progressing more slowly than was indicated in 2020 due to high coronavirus rates and related economic restrictions in Europe and Japan. Recently, a disparate picture has been forming: In the advanced economies, declining infection rates and continued progress in vaccination campaigns will presumably lead to a revival that will be especially noticeable in the retail and service sectors while the manufacturing industries will lag behind in the short-term due to high raw material prices. In some emerging economies, in contrast, recently skyrocketing coronavirus rates and a lack of vaccine doses are likely to hinder recovery before the situation improves. Overall, the growth rate should increase in the second half of 2021 so that the outlook for the global economy remains nearly unchanged: DIW Berlin estimates growth of 6.7 percent for 2021 and growth of 4.9 percent for 2022. The USA, euro area, and China are delivering positive momentum to this growth, as they have remained spared from a further wave of the virus.
Subjects: 
Business cycle forecast
economic outlook
JEL: 
E32
E66
F01
Persistent Identifier of the first edition: 
Document Type: 
Article

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