AFTER SUFFERING THE worst downturn since World War II, the global economy is poised for a synchronized recovery the likes of which has not been seen since 2017.
Led by the United States, which is expected to see a rate of growth not experienced since the heydays of the mid-1980s, all regions of the world are projected to see significant improvements from the pandemic-driven dive they took in 2020.
“World economies rarely move in lockstep,” Morgan Stanley noted in its global economic forecast published in December. “In fact, a synchronous global recovery, where growth in both developed and emerging markets accelerate in the same year, has happened only a dozen times over the past 40 years – the last in 2017.”
The bank is forecasting a 6.4% increase in global gross domestic product this year. In the United States, the estimate is for 5.9% growth, while the eurozone will come in at 5%, the United Kingdom at 5.3%, Japan at 2.4%, China at 9% and India at 9.8%.
