Home » UK economy set to grow faster than the US this year – Goldman
UK economy set to grow faster than the US this year – Goldman
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LONDON – Britain looks set to see faster economic growth than the United States this year as the country races ahead with its vaccination program after its slump in 2020, Goldman Sachs said on Sunday.
The bank said in a note to clients that it now expects British gross domestic product to grow by a "striking" 7.8% this year, "above our expectations for the U.S."
A Reuters poll of analysts published on April 13 showed an average forecast for growth of 5.0% in the UK, the world's fifth-biggest economy in 2021. The International Monetary Fund has projected a 5.3% expansion.
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But since those forecasts were made there have been signs of an acceleration in the pace of recovery with the country now having given a first coronavirus vaccine to more than half of its total population.
"The UK economy is rebounding sharply from the Covid crisis," Goldman Sachs said.