Macroeconomic Outlook

With most restrictions lifted, the hard hit travel industry is poised for better than average growth.

The invasion of Ukraine is rocking financial markets, pushing commodity prices higher, and threatening further disruptions to already stretched global supply chains.

We are optimistic about the outlook but risks remain elevated given the uncertain path of the virus. Base effects associated with reopening, rising commodity prices, policy stimulus and higher input costs have boosted inflation rates. – RBC Economics.

The spread of the Delta variant and slow vaccination rates in many emerging economies created a detour in the road to recovery for the global economy.

The outlook for the global economy improved over the past three months because of increased policy support and rising vaccination rates.

The outlook for the global economy improved significantly as vaccination campaigns ramped up. RBC Economics expects real GDP to increase by 5½% in 2021.

2021 promises to be a better year with the discovery of a vaccine against COVID-19 set to restore both our health and the economy.

RBC Economics says global economies will continue to grow at a more moderate pace but are less likely to return to pre-COVID levels in 2020.

RBC Economics projects the world economy to contract by 3% this year in its latest macroeconomic outlook.

In its updated macroeconomic outlook, RBC Economics expects Q2 GDP to contract at a 40% annualized rate.

In its latest macroeconomic outlook, RBC Economics calls for real GDP to contract at a greater than 30% annualized pace in the second quarter.

As the economy has already entered a deep downturn, RBC Economics expects it will rival the worst year of the Great Recession.