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May 17, 2021

Wow! UK Recovery Expected To Lead Other European Countries

 The UK is expected to lead the economic recovery among major European countries with the fastest growth in almost half a century before a slow return in 2023.


The following is a forecast by economists surveyed by Bloomberg, who have revised their projections for 2021 growth to 6%.


This marks the UK’s strongest growth since 1973, and further ahead of Germany, France, Italy and Spain.



The increase follows progress made in the Covid-19 vaccination program in the UK, which allows the government to gradually relax coronavirus blockade measures.


Most recently, the UK is expected to make a decision on June 14 to decide whether or not the final phase closure measures will be extended, where more easing will be implemented.


Nevertheless, in 2023, analysts see the UK economy will return to slow following the impact of Brexit and a slowdown in productivity in the country will re -emerge.


As a result, the UK economy will grow at a slower rate than other major European countries. Analysts reduced their growth forecast for 2023 to 1.7%.