The global economy is expected to end 2021 2.5% larger than it was at the end of 2019. That’s according to the latest forecast from the IMF, which has upgraded its economic projections by about half a percentage point since its last forecast in January.
Why it matters:
The overall growth rate of 6% in 2021 masks a huge range between countries. India is projected to grow at a 12.5% pace this year, for instance, while Nigeria will only grow by 2.5%.
The big picture:
Europe is going to end 2021 with a smaller economy than it had at the end of 2019. Asia, however, is seeing torrid growth, led by both China and India.
The United States
is doing extremely well by developed-country standards, with tailwinds from both widespread vaccinations and more than $5 trillion in economic stimulus.