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UN report predicts stronger world economic growth with robust rebounds in China, US

2021-05-13 CTJPA

UNITED NATIONS, May - A UN report has revised up the world economic growth as a result of robust rebounds in China and the United States, but warned against fragilities in other economies in the context of COVID-19.

In its mid-year update of its World Economic Situation and Prospects 2021, which was released in January 2021, the UN Department of Economic and Social Affairs (DESA) now predicts the world economy will grow 5.4 percent in 2021 instead of the 4.7 percent forecast in January 2021.

Following a sharp contraction of 3.6 percent in 2020, the world economy will return to positive territory as the world's two largest economies -- China and the United States -- will register impressive growth, according to the mid-year update, which was released on Tuesday.

DESA revised its forecast for China from 7.2 percent to 8.2 percent; and for the United States from 3.4 percent to 6.2 percent for 2021.

While the global growth outlook has improved, surging COVID-19 infections and inadequate vaccination progress in ma

Source From: www.chinadaily.com.cn