Nowcasts Show Global GDP Moving Above Pre-Covid Peak

Nowcasts Show Global GDP Moving Above Pre-Covid Peak

Nowcasts of gross domestic product growth across major economies show output for a significant chunk of the world economy poised to move above the pre-crisis peak. Bloomberg Economics’ nowcasts point to global growth of around 1.3% quarter on quarter in the first three months of 2021, a slight deceleration from 1.7% in the final quarter of 2020. That headline figure masks significant variation between countries: North America and China are leading the global recovery. Germany, France, Italy and the U.K. lag, with first-quarter GDP expected to contract.

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