IHS Markit revises downward global real GDP growth forecasts to 5.7% in 2021

IHS Markit revises downward global real GDP growth forecasts to 5.7% in 2021
# 24 August 2021 10:59 (UTC +04:00)

After a 3.4% decline in 2020, IHS Markit predicts global real gross domestic product (GDP) to rise 5.7% in 2021 and 4.5% in 2022, led by strong recoveries in consumer spending and business investment, APA-Economics reports.

"This month’s forecast of global growth has been revised downward by 0.1 percentage point for this year and 0.2 percentage point for 2022, mostly owing to a less robust performance in the US," said Sara Johnson, the executive director of global economics at IHS Markit, in a statement today.

The international financial market data provider sees global growth settling at 3.2% in 2023 as pent-up demands are satisfied, and fiscal and monetary stimuli are withdrawn.

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