GOLDMAN SACHS: UK’S ECONOMY TO GROW FASTER THAN US IN 2021

Highlights:

  • Goldman Sachs said that, the economy of United Kingdom is all set to grow faster than the United States in 2021
  • The bank said that, it is now expecting that the GDP of UK to grow by 7.8 percent in the year 2021

On Sunday, Goldman Sachs said that, the United Kingdom has been looking all set for seeing faster economic growth of the country more than the United States in the year 2021 as the United Kingdom has been racing ahead with the corona virus vaccination programme after its decrease in the year 2020.

In a note to the clients, the bank said that, it has now been expects that the gross domestic product or GDP of United Kingdom to grow by a striking 7.8 percent t in the year 2021, which is more than the expectations for the United States.

Previously, the Goldman had been expecting that, the economy of the United Kingdom will be growing by 7.1 percent in the year 2021 and its forecast for the growth of the United States in the year 2021 had been standing at 7.2 percent, which has been helped by the huge fiscal stimulus programme of Joe Biden.

According to the reports, the average forecast for the economic growth of 5 percent in the United Kingdom, which has been the fifth biggest economy in the world in the year 2021, and the International Monetary Fund of United Kingdom has also been projected a increase of 5.3 percent.

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