RATINGS AND PROJECTIONS OF U.S. ECONOMIC RECOVERY

E. V. Emelianov ()

International Trade and Trade Policy, 2021, vol. 7, issue 1

Abstract: The forecasts of the economic development for the next years vary among countries and projections depend greatly on how long the pandemic and social distancing will take place and on the measures that are taken place for increasing social and economic activities, commerce. Meanwhile ratings of US leadership are declining, with the worst results in Europe. The rapid spread  of the virus that causes COVID-19 made US leading country in confirmed cases and created a new reality for the national economy. As to the US the fall of real gross domestic product in 2020 is expected around the average of OECD countries, more than in Japan; less than in in Great Britain, Italy, France. Unemployment rate is projected going down in 2021 (comparing with 2020) but remaining still high. Experts are examining possible outcomes of coronavirus spreading and its consequences for the dynamics of GDP, unemployment, international trade and world investment. The projections seem not very bright for the next year; and it will take time for returning to pre pandemic indicators. While forecasts of declining international trade show the fall in world merchandise exports would be large, the estimates show beginning growth in exports next year.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:acl:journl:y:2021:id:425

DOI: 10.21686/2410-7395-2021-1-27-35

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