Economic recovery: Full steam ahead | Visa


Economic recovery: Full steam ahead

First quarter ends with solid economic growth and strong momentum going into Q2.

Illustration of a bar chart showing seasonally adjusted real GDP. See adjusted real GDP image description.
A bar chart showing seasonally adjusted real GDP, with compound annual growth ranging from 2.9% in March 2019 to -31.4% in June 2020, 33.4% in September 2020 and 6.6% in March 2021, with growth forecast to reach 3.2% by year-end 2021 and 2.9% by year-end 2022. YoY growth ranged from 2.3% in March 2019 to a low of -9% in June 2020 and returning to positive levels with 0.5% in March 2021. YoY growth is forecast to reach 5.7% by year-end 2021 and 2.9% by year-end 2022.
Illustration of a bar chart showing government contribution to GDP growth. See GDP growth image description.
A bar chart showing government contribution to GDP growth ranging from 0.4% in March 2019 to -0.96% in Sept-2020 and 1.5% in March 2021, with growth forecast to reach 1.1% by year-end 2021 and 0.7% by year-end 2022.