‘More jabs, more jobs’: OECD boosts forecast for global growth

The OECD boosted its forecast for global growth this year to 5.6 percent, but says a lot will depend on the race between vaccines and emerging variants of COVID-19.

The OECD is feeling a whole lot better about the global economy’s prospects this year, but warns that prospects for sustainable growth “vary widely between countries” and sectors. In its latest Economic Outlook (PDF) released on Tuesday, the Organisation for Economic Co-operation and Development (OECD) boosted its forecast for global economic growth this year to 5.6 percent – more than a full percentage point higher than its December estimate. It also sees world output of goods and services reaching pre-pandemic levels by the middle of 2021.