The world economy is bouncing back from the pandemic crisis faster than expected, thanks in part to successful coronavirus vaccines and U.S. stimulus efforts, but the improvements are uneven and joblessness remains a big concern, according to a new forecast. That is up from a December forecast of 4.2 per cent growth in 2021 and 3.7 per cent for 2022. After the virus plunged the world economy into crisis last year, the OECD now expects global output to surpass pre-pandemic levels by the middle of this year. 1:01"World output is expected to reach pre-pandemic levels by mid-2021 but much will depend on the race between vaccines and emerging variants of the virus," the OECD said. That's more than twice as much as was being predicted in the last OECD forecast, three months ago.

Source: CBC News March 09, 2021 13:30 UTC