The Day at a Glance | April 6 2021

The Top

*IMF updates its global growth forecasts; it now expects a 6% rate of growth for global GDP during 2021 (vs. 5.5% prev.).

*The Mexican economy recorded growth during March, according to IMEF indicators.

*The services sector in the US logged record growth during March (Services ISM 63.7).

*The United States, European Union, Russia and China start meetings in Vienna to negotiate a nuclear pact with Iran.

*Consumer confidence in Mexico continues to recover (40.4 Mar.; +1.6% vs Feb.).

Economic environment

The International Monetary Fund (IMF) revised its global growth estimates upwards. The IMF expects to see a 6% rate of growth in the global economy during 2021, an upwards revision from the previously estimated 5.5% (estimated in October). A greater rate of growth is also expected for 2022 (4.4% vs 4.2% prev.). Growth will be backed by the advancements made in vaccine programs, the stimuli carried out through fiscal and monetary policies (especially in advanced economies) and the adaptation of activities amidst the restrictions implemented on mobility. The IMF considers that the outlook is still uncertain as the proliferation of the virus`s variants has continued to pose the risk of the pandemic`s re-emergence in recent months. The recovery will continue to be different among countries and the most affected economies will be those that highly depend on tourism, the exportation of commodities and those that don`t count on enough fiscal or monetary space to back a recovery.