Director’s Remarks, UK and Global Economic Outlook February 2021

"Welcome to the National Institute of Economic and Social Research for the release of our February 2021 Global and UK Economic Outlooks. Our new National Institute Global Economic Outlook will focus on the developments in the world economy projected by our global econometrics model, NiGEM as well as providing scenarios to illustrate key macroeconomic issues. In this case we look at the spread of the vaccine and the implications of moving from inflation targets to price level targets. The National Institute UK Economic Outlook will not only continue to assess the aggregate picture but will increasingly place weight on its micro underpinnings at the sectoral, household and regional level. To that end we are developing a new National Institute Regional Economic modelling system (NiReMS), which should allow us to assess the true extent of any 'levelling up'."