Data: IMF World Economic Outlook; Chart: Will Chase/Axios
The global economy will end this year 2.5% larger than the end of 2019, according to new (rosier) forecasts from the IMF.
Why it matters: The overall growth rate of 6% in 2021 masks a huge range between countries.
For instance: India is projected to grow at a 12.5% pace this year, while Nigeria will only grow by 2.5%.
The big picture: Europe is going to end 2021 with a smaller economy than it had at the end of 2019. Asia, however, is seeing torrid growth, led by both China and India.
- The United States is doing extremely well by developed-country standards, with tailwinds from both widespread vaccinations and more than $5 trillion in economic stimulus.