The Organisation for Economic Cooperation and Development upgraded its global economic forecast for 2020 as output picked up swiftly following the easing of coronavirus confinement measures and the initial re-opening of businesses.
According to the interim report, released Wednesday, the global economy will shrink 4.5 percent this year instead of 6 percent fall estimated in June. Meanwhile, the growth projection for 2021 was revised down to 5 percent from 5.2 percent.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.