Rio de Janeiro – The global economic outlook saw significant improvement in March, in the wake of the successful rollout of Covid-19 vaccination campaigns in some countries, and optimism regarding the possibility that the pandemic could be put under control in a few months. However, the results differ greatly from region to region. The analysis is from Coincident Global Barometer, made available by the Brazilian Institute of Economics at Fundação Getulio Vargas (Ibre/FGV).
The Coincident Global Barometer climbed from 97.9 to 102.4 points in March, to its highest score since December 2017. Ibre/FGV’s Coincident Regional Barometers show that Asia, the Pacific and Africa accounted for most of the pickup in the global score. Ibre/FGV researcher Paulo Picchetti said the combination of restrictive measures and immunization is proving effective in lowering pandemic infection rates, albeit not equally around the world.
“Vaccine availability remains the primary condition for a more robust rebound across all regions and sectors. From an economic policy perspective, another condition for a recovery is the ability to provide sustained stimulus amid a deterioration of the fiscal situation and concerns regarding inflationary dynamics in several countries,” a statement quoted Picchetti as saying.
The Global Economic Barometers are a set of indicators released in tandem by the KOF Swiss Economic Institute at ETH Zurich and Fundação Getulio Vargas (FGV) in Brazil. The work is based on research into economic trends in over 50 countries to enable as global a coverage as possible.
Translated by Gabriel Pomerancblum
