The Organisation for Economic Co-operation and Development had previously forecast 3 per cent growth this year in an analysis published in late December. The OECD said the economy is poised for a strong recovery with a marked rebound in spending driven by savings that have been accumulated by households during lockdown. The global economy is now set to grow 5.8 per cent this year and 4.4 per cent next year, said the OECD. World economyThe global economy has now returned to pre-pandemic activity levels. It is expected to expand 3.6 per cent in 2022, down from a 4 per cent forecast in March.

Source: The Irish Times May 31, 2021 09:02 UTC