Struggling Together: World Outlook Economic Forecast—Autumn 2020

The Conference Board of Canada, 20 pages, November 2, 2020
Impact Paper by
(You must be signed in and entitled to rate this report)

This quarterly examination of the short-term economic outlook for the world’s major economies also contains an in-depth analysis of a number of issues that are relevant for understanding world economic trends and developments.

Document Highlights

  • The world economy will decline by 5.0 per cent this year, but a recovery is under way and growth in the 5.0 per cent range should occur in 2021.
  • There are, however, huge risks to the outlook, as the virus has returned with a vengeance to many parts of the world and forced some countries to close retail and other outlets and ban large gatherings.
  • U.S. interest rates will not increase until at least 2023, as monetary authorities contend that the economy is too fragile to handle higher rates while inflation remains under control.
  • Latin America has not done a good job of managing the virus, in part because leaders of countries like Brazil have downplayed the virus’s severity. In addition to COVID-19, the region is also dealing with Argentina’s never-ending debt saga and the ongoing collapse of the Venezuelan economy.
  • The Asia-Pacific region is in the best shape, mainly because the Chinese economy is undergoing a solid recovery, a development that has boosted export demand in countries like South Korea and Taiwan.
  • The United Kingdom is dealing not only with a resurgence of the virus but also with the rapidly approaching end-of-year deadline for negotiating a new trade agreement with the European Union following Brexit.
  • Most firms will likely take a flexible approach to remote working even after a vaccine becomes widely available. Many workers will return to the office, but most will spend only part of the week in the office and will continue to work from home a few days of the week.

Table of Contents

Key findings

A tepid, uncertain recovery in the global economy

Recovery under way but huge uncertainty remains

Latin America

European Union


The future of working from home

Appendix A: Methodology and assumptions

COVID-19: Get all the insights

To see if you are entitled to get this research for free, take a minute and create a free e-Library account. This will let us determine if someone else at your organization has already purchased access to this material.

Browse by...
Need Help?