Tuesday, May 12, 2020
Morgan Stanley expects global economic growth as measured by GDP to contract by 3 percent in 2020 before rebounding to 5.9 percent in 2021. As regards India, Morgan Stanley sees no growth (0 percent) for 2020 but expects it to rebound sharply to 7.7 percent in 2021, which makes India the fourth fastest-growing economy in the Asia ex-Japan region – only behind Philippines (2021e GDP growth at 12.6 percent), Malaysia (9.6 percent) and China (9.2 percent).
“The global economy appears headed to its most severe recession in the post-war era, although there is a fair chance of a rapid rebound in the second half of 2020-21 (H2-20/2021) on unprecedented policy easing, Covid-19 treatment,” wrote analysts at Morgan Stanley in a recent report co-authored by Jonathan F Garner, their chief Asia, and emerging market strategist.
