Goldman believes that the British economy will grow faster than the United States in 2021

The UK appears poised to see faster economic growth than the US this year. It’s the expectations they’ve made since then Goldman Sachs, Which estimates that the British Gross Domestic Product (GDP) It achieved a ‘windfall’ growth of 7.8% in 2021“It is above our expectations for the United States.”

UK Economy Recovering acutely from the Covid crisisThe bank says, noting that “the rapid PMI for April was much stronger than expected in the UK, and services PMI moved strongly into expansionary territory.”

The Goldman Sachs report does not include comparative forecasts for US economic growth. In February, he said he expects the United States’ GDP to grow 6.8% in 2021, as president Joe Biden Go ahead with a massive fiscal stimulus program.

British economy I contracted nearly 10% last year Because it was affected for longer periods than many of its European neighbors. In comparison, the US economy has contracted by about 3.5%, according to International Monetary Fund (International Monetary Fund).

In recent days, Deputy Governor Bank of England (Bank of England) Ben Broadbent was quoted as saying that it expects “very rapid growth over the next two quarters at least” as the country lifts restrictions on the Covid-19 pandemic.

On the one hand, EY Item Club improved its UK 2021 growth forecast from 5% to 6.8%, which is the fastest rate since 1973. Economy “It has proven to be more resistant than it seemed possible.”, They indicate. In addition, the British economy is expected to return to pre-epidemic levels in the second quarter of 2022, three months earlier than previous forecasts. For its part, numbers released on Monday from Deloitte also indicate that the UK may be on its way to a faster economic recovery than previously thought.

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Sacha Woodward

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