CHINA LIKELY THE ONLY MAJOR COUNTRY WITH GDP GAINS IN 2020

Key Points:

  • The World Bank projects the global economy to have pulled back by 4.3% last year due to the COVID pandemic.
  • European countries are expecting a 7.4% contraction and the U.S. GDP is expected to have contracted by 3.6%.
  • Meanwhile, according to a Monday release from Beijing, China’s economy expanded by 2.3% in 2020, which would render it the only major world economy to grow.
Source