Recession

• [New] The House Education and Labor Committee declared that US Congress has spent only $345m in workforce development, to tackle the disruption in job market created by coronavirus pandemic compared to $6bn invested during the Great Recession. / Verdict
• [New] The Bank of England is expected to say this week that the UK economy is set to recover faster than expected from the Covid-19 recession due to continued progress with the vaccination programme. / Informed Choice
• [New] As demand gradually returns to pre-pandemic levels and OPEC + raises production, crude oil prices are expected to average $ 56/bbl in 2021 and $ 60/bbl in 2022. / World Bank Blogs
• [New] The new demands in the Chinese market can help break the negative cycle of shrinking demand-losing job opportunities-further shrinking demand and prevent the world from falling into a protracted recession like the Great Depression. / CGTN
• [New] Officials are not in the game of preemptively hiking interest rates just because they think the U.S. economy is going to heat up, as U.S. central bankers did during the economic recovery from the Great Recession a decade ago. / Bankrate
• [New] Skyrocketing lumber prices threaten to thwart the momentum of the U.S. housing market, which for months has been one of the brightest stars of the recovery from the pandemic recession. / U.S.
• US economic growth is expected to accelerate in the first quarter of 2021 as businesses and households continue to recover from the pandemic recession. / New York Latest News
• Despite a global recession, the UK insurance industry will grow from £274 billion overall in early 2020 to approximately £298 billion by the end of 2025 - a compound annual growth rate of around 1.4%. / FStech
• Economic growth in eastern and southern Africa is expected to be 2.6% in 2021, and 4.0% in 2022, after an overall recession of 3% in 2020, driven mainly by South Africa and Angola. / Ecofin Agency
• Ending the support measures that have helped the UK housing market rise to record levels during the Covid-induced recession could exacerbate a predicted fall in house prices. / London School of Economics and Political Science
• Although global trade shows signs of bouncing back from the COVID-19-induced slump, economists caution that any recovery in 2021 could be disrupted by ongoing or expanding pandemic effects, keeping pressure on many governments to focus on internal economic stability. / Director of National Intelligence
• Brazil's fiscal sustainability is at risk due to rising inflation, high public debt and a recession triggered by the COVID-19 pandemic. / Climate and Economy
• Sea level rise is expected to impact NSW through coastal erosion and recession, and tidal inundation. / sites
• Latin America and the Caribbean has been hard-hit by the COVID-19 pandemic and the ensuing economic recession, which alongside climate change will add pressure on water resources. / OECD
• Turkey's economy is expected to emerge from a prolonged slump in 2021 - exacerbated by the Covid-19 pandemic - and grow as much as 4% on the back of retail sales and manufacturing. / African Business
• The effect of the recessions of 2020 will keep a lid on inflation for 2022 in most countries, with an expected steady rise in the next three to five years. / ACCA
• The rollout of COVID-19 vaccines and vast sums of government aid will accelerate global economic growth to a record high in 2021 in a powerful rebound from the pandemic recession. / Yahoo News UK
• Though impacted in the short term, student accommodation remains a significant and recession-resilient investment opportunity in the US and the UK, the two largest markets globally. / Balfour Beatty
• Pimco Sees 60% Chance of Global Recession in Five Years (Bloomberg) Pacific Investment Management Co., the world's largest active bond manager, said investors should cut risk amid a more than 60% chance of a global recession in the next three to five years. / Dealbreaker
• From an economic standpoint, countries such as the United States, China and Germany implemented very successful policies that resulted in less-than-expected recessions. / I by IMD
• The global recession sparked by COVID-19 is reversing the economic progress of several countries in various regions, with the threat of pushing 96 million people into extreme poverty, of which 47 million are women and girls. / CARE

Last updated: 12 May 2021