UN raises global economic forecast to 5.4% growth in 2021

UNITED NATIONS (AP) — The United Nations has responded to the rebounding Chinese and U.S. economies by revising its global economic forecast upward to 5.4% for 2021. But it warned that surging COVID-19 cases and inadequate availability of vaccines in many countries threaten a broad-based recovery. The U.N.’s mid-2021 economic report launched Tuesday pointed especially to the rapid vaccine rollout in the U.S. and China and an increase in global trade in raising its  January projection for a modest recovery of 4.7% this year. But the U.N. cautioned that “this will unlikely be sufficient to lift the rest of the world’s economies.”