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Bank of China projects faster recovery for global economy in H2

The global economy is likely to recover at a faster pace in the second half of the year, according to a report by the Bank of China (BOC).

In the relevant report on the economic and financial outlook for the third quarter, the BOC Research Institute said it expected the global economy to grow by 5.8 per cent in 2021.

In the first half of 2021, production activities globally have gradually approached the pre-pandemic level, while recovery in consumption has also accelerated, which eased the imbalance between supply and demand, the report said.

“Global economic recovery is likely to speed up in the second half of 2021, but regionally it will be an uneven process due to stronger policy support and faster vaccination in developed economies,” it said.

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