Global GDP forecast improves thanks to government coronavirus responses

The outlook for global economic growth has improved since June because of the significant coronavirus relief efforts from governments around the world, according to a new report released on Wednesday.

Global gross domestic product is projected to fall by 4.5% this year, before picking up to 5% in 2021, according to a report by the Organization of Economic Cooperation and Development.

That projection is an improvement over the June forecast for a 7.6% contraction of the global economy if a second wave of the virus triggered shutdowns and a 6% slump if the second wave was avoided.

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