EU says UK economy predicted to grow at fastest rate since WW2

The good feels on the UK economy are growing, this over the weekend from the Bank of England:

  • Bank of England Dep Gov Broadbent sees “very rapid” economic growth at least over the next couple of quarters
Adding now from the EY Item Club over the weekend:
  • upgrades its GDP forecasts for 2021
  • expects GDP to grow by 6.8% in 2021, previous was +5% (January forecast)
  • UK economy expected to climb back to its pre-pandemic peak by the middle of 2022
  • Ey looking for a surge in consumer spending after a rise in saving by wealthier households during lockdown
  • successful vaccination rollout
  • easing of the lockdown

The Ernst & Young accountants’ ITEM Club
  • Running for 25 years
  • A non-governmental forecasting group
  • produces quarterly UK economic forecasts