The COVID-19 crisis was deeper than the global financial crisis
The estimated output loss from the COVID-19 crisis is large and widespread
Industrial activity and trade are rebounding but service sectors have lost momentum
Output remains depressed for sectors directly facing restrictions
The recovery in gross fixed capital formation has been mixed
The increase in unemployment has been contained
The increase in female unemployment has been relatively sharp
Part of changes in the labour market could become permanent
Labour compensation fell across the OECD
Public finances deteriorated quickly in 2020
The GDP impact of the American Rescue Plan will be sizeable
Accommodative monetary policies pushed down 10-year government bond yields during 2020
Economies are projected to rebound at different rates
The pace of COVID-19 vaccination deployment differs substantially across countries
Higher household saving can translate into higher future demand if confidence rises
Headline inflation decreased through 2020
Cost pressures have recently begun to increase