Economics
Back to Square One: When Big Economies Will Hit Pre-Virus GDP
- China got there first, U.S. set to follow sometime in mid-2021
- Italy, Mexico and U.K. won’t recoup loss before 2023, IMF says
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In China, it’s already happened. The U.S. should get there in the second half of this year. But Italians and South Africans may have to wait until 2023 -- or even longer.
Those are the dates when output in some of the world’s major economies will return to the status quo ante-Covid-19 -- the level achieved at the end of 2019, before the new coronavirus struck -- according to the latest forecasts from the International Monetary Fund. The numbers reveal an uneven global recovery after the worst recession since World War II.