The US economy will surpass its pre-pandemic size as growth reaches 6.4% this year, the IMF said, up 1.3 percentage points from the group's forecast in January. The rebound will help the global economy expand 6% in 2021, an upgrade of 0.5 percentage points from the IMF's previous outlook. The group estimates global output dropped 3.3% in 2020, while the US economy shrunk 3.5%. Global output growth will slow to 4.4% next year, according to the IMF. The upgraded US forecast means the world's biggest economy is on track to grow more quickly than many other developed nations this year.

Source: CNN April 06, 2021 12:38 UTC