Download GlobalData’s Covid-19 Executive Briefing report
- ECONOMIC IMPACT -
Latest update: 20 January
World Bank forecasts global economic growth at 4% in 2021 as vaccine rollout becomes widespread, following an estimated 4.3% contraction in 2020.
Chinese economy expands by 6.5% in Q4 2020, taking the full year growth to 2.3% in 2020, according to National Bureau of Statistics.
Consensus forecast for world GDP growth in 2020
Unemployment rate in the US in December 2020, unchanged from the previous month
Global real GDP growth
% change on previous year
Pre-Covid-19 2020 forecast
Adjusted 2020 forecast
The cost of Covid-19
Estimated monthly cost of the Covid-19 pandemic globally
Cumulative loss for global economy over the next two years
- SECTOR IMPACT: Aerospace, defence and security -
Latest update: 8 January
Defence markets, although relatively shielded from both immediate demand and supply side shocks, are now starting to look vulnerable in many parts of the world as national debates are ignited around fiscal priorities.
Western supply chain concerns stemming from Chinese-US rivalry have been exacerbated by Covid-19. This will result in greater FDI scrutiny, multisourcing and onshoring in key product areas such as microelectronics.
The interdependent relationship between aerospace and defence has helped to cushion the impact of Covid-19 on companies working across both segments. Targeted government aid will be instrumental to recovery in these sectors.
Impact on major companies