The OECD has raised its UK growth forecast for this year to 7.2 per cent, from its forecasts of 5.1 per cent made in MarchBritain’s economy will grow at its fastest pace since the second world war as vaccinated households spend their savings and businesses ramp up investment, the Organisation for Economic Co-operation and Development (OECD) has said. The 37-member rich nation think tank upgraded its GDP forecasts for the UK on the back of the rapid vaccine rollout, which it said would “allow for a solid rebound” in the services sector as public health restrictions are lifted over the summer. SponsoredThe UK growth forecast for this year was lifted to 7.2 per cent, up from previous forecasts of 5.1 per cent made in March and 4.2 per cent made in December. Economic output would continue to expand in 2022, it said, pencilling in growth of 5.5 per cent.

Source: The Times May 31, 2021 09:00 UTC