Gross domestic product
In 2021-Q1, GDP growth has been mixed. On average, OECD countries experienced a modest growth rate relative to 2020-Q4 (+0.6%). However, GDP is still lower than during the COVID-19 outbreak in the first quarter of 2020 (-0.4%). A noteworthy exception is China, which experienced a boost in GDP of more than 18% relative to the same period of the previous year. This result follows from the large decline in the GDP of China due to the strict national measures to contain the pandemic that led to a sharp drop in economic activity and to the strong rebound in GDP as the country eased restrictions. According to the OECD economic outlook, GDP is expected to steadily rise as economic activity transits towards normalcy and to stabilize, on average, around 5% from 2022.