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

"Welcome to the National Institute of Economic and Social Research for the release of our Spring 2021 Global Economic Outlook and our UK Economic Outlooks. Our Global Economic Outlook focusses on the developments in the world economy projected by our global econometric model, NiGEM as well as providing scenarios to help us understand emerging macroeconomic issues. In this case we look at the impact of the US fiscal expansion on the US economy and in the rest of the world. The National Institute UK Economic Outlook assesses the aggregate picture but increasingly places 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'."