The September 2020 economic forecast of the Organisation for Economic Cooperation and Development (OECD) points to a global GDP contraction of 4.5 per cent in 2020. As a comparison, in June 2020, the OECD had projected a contraction of 6.0 per cent for 2020. a.
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.