UK Economy To Grow Faster Than EU Says OECD
Published / Last Updated on 03/12/2021
The Organisation for Economic Co-operation and Development (OECD) has forecast that the UK will be the fastest growing economy of the 7 so called ‘advanced’ economies only beaten by emerging market economies and BRIC (Brazil, Russia, India, China) economies.
Forecast growth of 6.9% in 2021 and 4.7% in 2022 just exceeds USA expected growth but outstrips growth forecasts for the EU at 5.2% in 2021 and 4.3% in 2022.
Comment
Before we all start rushing into UK markets do not forget that there are still pressures both in UK and overseas:
- Omicron variant
- Supply shortages
- Worker shortages
Our prospects are better than others though given we are ahead of most other countries on vaccinations and then booster jabs, so we understand why the OECD would forecast the UK to lead the way in 2021 and 2022.