November 16, 2020

Global Economic News Of Note: IMF Predicts World GDP Will Rebound Next Year


  • According to a report issued last month, the International Monetary Fund now believes that worldwide gross domestic product (GDP) will fall 4.4 percent in 2020 due to the COVID-19 pandemic and global recession, but will rebound 5.2 percent in 2021.
  • Eurozone real GDP advanced 12.7 percent in the third quarter after falling by 3.7 percent and 11.8 percent in the first and second quarters, respectively.
  • Vehicle and bus sales in China fell 17.4 percent from September 2020 to October 2020, but were up 12.5 percent from October 2019. Sales are still below pre-pandemic levels, however. Click here for more.