Global Economic Outlook: A bumpy ride ahead
The global economy is recovering well and the gap between the industrial sector and the services sector is narrowing as restrictions are eased. At the same time, vaccination programmes are progressing at varying pace worldwide which has forced a reinstatement of tight restrictions and local shutdowns, especially in Asia. This puts a damper on Asian growth which, in turn, spills over to the global economy. Global GDP is expected to grow by 6 per cent this year and 4.8 per cent in 2022.