Global Economic Data as of February 2021

I always encourage students to be aware of what is happening in the global economy as well as their own. Below are growth, unemployment and interest rates for the main economies. Note the high rates of quarterly economic growth which indicates a bounce back from the previous quarter when most of the world was in a serious lockdown. The unemployment rates you would expect to be a lot higher with COVID-19 and a 4.9% rate in NZ was a surprise. An area of employment growth in the December quarter was Construction, along with many government-dominated industry types. Monetary policy been very accommodative and although rates have been very low note that in Japan and the Euro zone areas it has been like this since 2016. These figures could be used for discussion purposes in you class.

Quarterly Economic Growth Rates

Unemployment %
Global Interest Rates

Source: Monthly Economic Review – February 2021 – NZ Parliamentary Service

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