A vaccine is a major step, but policy response is also key | Global

Some economists have been quick to upgrade their GDP forecasts for next year in response to the news that the Pfizer-BioNTech Covid-19 vaccine appears highly effective.

While this development undoubtedly marks a big step forward, for now, we are sceptical that this will provide a meaningful boost to our slightly above consensus forecast for global GDP growth in 2021.

Download this piece to find out:

  • The impact of the latest vaccine developments on the existing assumptions in our baseline forecast. 
  • How expectations for a vaccine could trigger new shifts in spending patterns.
  • How rollout of a vaccine program could trigger premature fiscal tightening.

Topics: Global, Coronavirus, GDP, Coronavirus vaccine

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