Economic prospects have diverged further across countries since the April 2021 World Economic Outlook (WEO) forecast. Real gross domestic product (GDP) increased at an annual rate of 6.5 percent in the second quarter of 2021 according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 6.3 percent (revised). The increase in second quarter GDP reflected the continued economic recovery, reopening of establishments, and continued government response related to the COVID-19 pandemic. The 0.5 percentage-point upgrade for 2022 derives largely from the forecast upgrade for advanced economies, particularly the United States, reflecting the anticipated legislation of additional fiscal support in the second half of 2021 and improved health metrics more broadly across the group.
Post by : Republic of Turkey Ministry of Trade