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MNI BRIEF: 'Plausible' Case For Upside Recovery Surprise: OECD

LONDON (MNI)

There is a 'plausible' case for an upside economic surprise in 2021 as the economy begins its recovery and gets a boost from a successful vaccination program, Organization for Economic Cooperation and Development Chief Economist Laurence Boone said Tuesday.

Presenting the OECD's latest Economic Outlook reports, Boone said the savings ratio seen during lockdown across Europe in Q4 appeared to mirror that in Q2 -- a savings boost that helped fuel a very strong consumer rebound in Q3 -- and a repeated consumer boom would help fuel a stronger recovery.

The OECD sees global GDP growth of 4.2% in 2021, recouping almost all of the ground lost in 2020.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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