Economic Calendar This Week: Week beginning 26 July 2021
Updated: 2021-07-26 11:04:26 KST
The IMF is set to release an update on the World Economic Outlook on Tuesday.
But, IMF Managing Director Kristalina Georgieva made an early statement regarding the evaluation last Wednesday, saying that the international body expects a six percent growth for the world economy this year…the same forecast it made in April.
She also mentioned that the growth is expected to be uneven…with some countries growing faster and others more slowly, mainly due to differences in the speed and effectiveness of vaccinations, and the availability of fiscal stimulus.
When the IMF released its projection in April, it raised its forecast rate by point-five percentage points from January.
The U.S fiscal stimulus and vaccine distribution were some of the significant factors that led to revising up its previous forecast.
As for South Korea, the international body estimated growth of three-point six percent, up from the previous three-point one percent.
On Wednesday, Statistics Korea will release its population data for May.
The number of births dropped by more than two percent and deaths increased by over one and a half percent in April compared to the same month in the previous year.
Long-term demographic trends from Statistics Korea show that the country will see its population decline from 2029…which is earlier than the previous projection of 2032.
Since population size is closely related to national power, Korea's population trend is drawing much attention.
On Thursday, the U.S. Commerce Department is scheduled to publish its first estimate for the second quarter's GDP.
The U.S. economy increased at an annual rate of six.four percent in the first quarter this year…an acceleration from its four.three percent of the fourth quarter last year.
The strength was mainly led by consumer spending as consumers benefited from government stimulus payments.
In fact, disposable personal income soared by 23.three percent, and consumption expenditure increased by five percent in March compared to the previous month.
However, as stimulus effects will eventually stop and the battle against Covid-19 continues, observers are watching to see how the U.S. economy will react.
Seo Eunkyung, Arirang News.