12 February 2021
We believe the global economy could see strong growth in 2021, though the next few months could be bumpy. COVID-19 vaccine distribution is underway. While there are questions about variants of the virus, we believe the vaccines will be effective in limiting hospitalisation and deaths. Key macroeconomic growth drivers appear to be in place: strong aggregate consumer health, elevated household savings rates, low inventory levels, a solid housing outlook, pent-up demand and continued accommodative monetary and fiscal support. We think these factors could set the stage for a potential boom once social distancing measures ease. Read on for a visual snapshot of our GDP growth expectations around the globe.
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