Analysis by EY claimed Britain’s economy was growing at its fastest pace in 80 years and could recover back to pre-pandemic levels by the end of 2021. EY, formerly Ernst and Young, said GDP would grow back 7.6 percent, the fastest annual growth since 1941.
It comes after the UK economy shrank by 9.8 percent in 2020, the worst performance in the G7.
Elsewhere, a separate analysis by the International Monetary Fund (IMF) reveals the UK economy would also grow by seven percent this year, compared to 5.8 percent for the Eurozone, seven percent for the United States and 8.1 percent for China.
In addition, data from the European Central Bank said the eurozone economy would only grow 4.6 percent by the end of the year.
The 19-nation bloc had already grown by two percent in the second quarter of 2021.
Martin Beck, the EY Item Club’s senior economic adviser, said the reopening of the “face-to-face” parts of the economy meant the UK should have a correspondingly faster recovery”.
Chancellor of the Exchequer, Rishi Sunak said: “There are positive signs that our economy is rebounding…
