The OECD has projected that the US economy could shrink by 3.8 per cent, while the Euro area could contract by 7.9 per cent in 2020. b. The world economy is projected to recover in 2021, with an estimated growth of 5.0 per cent.
However, a strong resurgence of infections or stringent containment measures could remove some 2 to 3 percentage points from this global growth forecast. 1/5  BIS central bankers' speeches  13. At this stage, an extended ‘U-shaped’ recovery may appropriately describe the global economic recovery process. 14. Global inflationary pressures remain contained.