Global economic rebound seen faltering amid coronavirus resurgence – Reuters poll

The coronavirus resurgence is seen thwarting the global economic recovery by year-end, the latest Reuters poll of around 500 economists showed.

Key findings

“The Oct. 6-27 Reuters polls of economists across Asia, Europe and the Americas covering 46 economies showed scant sign of activity recovering to pre-COVID-19 levels anytime soon.”

“Nearly three-quarters of 150 analysts who responded to an additional question said the resurgence in coronavirus cases posed a high risk of halting the current global economic recovery as early as this year.”

“Median growth forecasts for over 65% of those 46 economies were downgraded or left unchanged for 2020 and nearly 60% of those for 2021.”

“The global economy was expected to grow 5.3% next year after shrinking 4.0% this year. But nearly 80% of economists, or 119 of 150, said a weaker global recovery than previously thought was the greater risk in 2021, rather than a vigorous rebound or a renewed downturn.”