Outlook for 2021
After a slowdown in the first half of 2020, the global economy recovered remarkably well. The lockdown eased during the second quarter (Q2) of 2020 and resulted in increased retail sales. Manufacturing activity was slower to recover.
By the end of 2020, global growth was nearly at pre-COVID-19 levels. In its October 2020 World Economic Outlook, the International Monetary Fund (IMF) forecast world economic growth of -4,4% in 2020, rising to 5,2%
