OECD Sees World Economy Growing by 5% in 2021

The Organization for Economic Cooperation and Development (OECD) improved its expectations for the global economy during 2020, expecting a 4.5% contraction, compared with 6% in June.

This comes due to improved outlooks for the world’s two largest economies, the United States and China, and supported by recent economic data.

However, OECD is expecting a 5% growth in the global economy in 2021, down from 5.2% in its June expectations.