Global Economy Watch - Projections

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Economic projections

Our economic projections table summarises our main scenario GDP and inflation projections.
 

September 2020

  Share of 2018 world GDP Real GDP growth Inflation
  PPP MER 2020p 2021p 2022-2026p 2020p 2021p 2022-2026p
Global (Market Exchange Rate ("MER"))   100.0% -5.2 5.3 2.8 1.5 2.0 2.6
Global (Purchasing Power Parity ("PPP") rate) 100.0%   -4.5 5.5 3.4 2.1 2.4 3.0
G7 30.1% 45.9% -7.3 4.6 1.5 0.6 1.5 2.0
E7 38.2% 26.7% -1.5 6.7 5.1 0.0 0.0 3.5
                 
United States 15.2% 24.2% -6.6 4.3 1.8 0.8 2.0 2.3
China 18.7% 15.8% 1.6 8.0 5.7 2.2 2.0 2.9
Japan 4.1% 5.9% -5.6 2.5 0.6 0.1 0.3 1.2
United Kingdom 2.2% 3.3% -9.9 6.2 1.8 0.9 1.4 2.0
Eurozone 9.8% 13.9% -9.2 6.0 1.4 0.3 1.0 1.9

France

2.2% 3.3% -10.9 7.4 1.5 0.4 0.8 1.7

Germany

3.2% 4.7% -6.7 5.1 1.3 0.4 1.4 2.3

Greece

0.2% 0.3% -8.4 5.4 1.2 -0.5 0.7 1.8

Ireland

0.3% 0.4% -7.7 5.8 2.8 0.0 1.0 1.9

Italy

1.8% 2.4% -11.4 6.0 0.8 0.1 0.7 1.4

Netherlands

0.7% 1.1% -6.7 4.5 1.6 0.9 1.6 2.0

Spain

1.4% 1.7% -11.8 6.8 1.7 -0.2 0.8 1.7
Poland 0.9% 0.7% -4.4 4.3 2.6 3.1 2.0 3.0
Russia 3.1% 1.9% -5.9 3.8 1.8 3.4 3.3 4.2
Turkey 1.7% 0.9% -4.7 5.1 3.0 11.7 11.3 11.2
Australia 1.0% 1.7% -4.3 3.4 2.5 1.1 1.7 2.5
India 7.8% 3.2% -4.9 6.9 7.5 4.0 4.0 4.0
Indonesia 2.6% 1.2% -0.9 5.6 5.2 2.6 2.9 3.0
South Korea 1.6% 1.9% -5.6 2.5 2.8 0.3 0.7 1.8
Brazil 2.5% 2.2% -7.7 3.4 2.2 2.8 3.3 3.5
Canada 1.4% 2.0% -7.4 5.1 1.7 0.7 1.5 1.9
Mexico 1.9% 1.4% -10.1 3.5 2.4 3.1 3.1 3.0
South Africa 0.6% 0.4% -8.1 3.3 1.8 2.8 3.6 5.1
Nigeria 0.9% 0.5% -4.4 2.4 2.4 13.4 12.9 11.4
Saudi Arabia 1.4% 0.9% -6.2 3.4 2.4 1.7 2.1 2.1

Sources: PwC UK analysis, National statistical authorities, Eikon from Refinitiv, IMF, European Commission, Consensus Economics.

Projections for 2020 and 2021 are an average of projections from the IMF (World Economic Outlook, June 2020), European Commission (Summer 2020 Economic Forecast: A deeper recession with wider divergences) and Consensus Economics (August 2020), where available for each country. Projections for 2022-26 are PwC's medium-term projections. All inflation indicators relate to the Consumer Price Index (CPI). Note that the tables above form our main scenario projections and are therefore subject to considerable uncertainties. UK and Ireland numbers are contingent on a reasonably smooth Brexit. PwC recommends that our clients look at a range of alternative scenarios.

Date updated: 2nd September

Contact us

Barret Kupelian

Senior Economist, PwC United Kingdom

Tel: +44 (0)7715 1562331

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