According to the World Bank, this year should be strong. It estimates global expansion at 5.6%, "its strongest post-recession pace in 80 years."
What does it mean for us?
It means that we are likely to see profits when investing in some sectors, in some regions. Particularly in regions where economic activity has continued, moving pass COVID crisis, where people can now get back to work safely.
Vaccination is now paramount in deciding a country's growth. Regions where COVID case spikes are common will likely see a pause in economic activity, and therefore a recession.
Getting the jab is now more than just physical - regions where COVID cases are well controlled have and will see economic growth.
Here is a summary of projected growth
East Asia and Pacific - 7.7% Europe and Centra Asia - 3.9% Latin America and Caribbean - 5.2% South Asia - 6.8% Global average - 5.6%
In Singapore, we are likely to also see a rebound in the jobs market, now that vaccination penetration is high, and cases are comparatively low and relatively well-contained. In other words, more jobs at higher salaries.
When investing, look at how smooth economic activity currently is, and how the states are doing in containing COVID. Or, you can consult with our specialist when you leave us a message.
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