The OECD is predicting UK growth of 7.2% in 2021 and 5.5% in 2022 – “the fastest since World War II”.
However, it also predicts…
“increased border costs following the exit from the EU Single Market will continue to weigh on foreign trade. Unemployment is expected to peak at the end of 2021 as the Coronavirus Job Retention Scheme is withdrawn. Inflation is set to increase due to past increases in commodity prices and strong GDP growth, but should remain below the 2% inflation target.”
Globally, the predictions are “uneven and dependent upon the effectiveness of vaccination programmes and public health policies.”