Download GlobalData’s Covid-19 Executive Briefing report
- ECONOMIC IMPACT -
Latest update: 17 February
The IMF projects global economic growth at 5.5% for 2021 which is an upward revision from the 5.2% rise estimated in October 2020.
After weeks of gradual decline, GDP estimates for many countries have levelled off. Negative GDP growth is forecast in all countries except China.
Consensus forecast for world GDP growth in 2020
Unemployment rate in OECD nations in December 2020
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: 3 March
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.