Economists forecast that the UK’s GDP – Gross Domestic Product – will be between 4.6 percent and 5% in 2022. The International Monetary Fund (IMF), Goldman Sachs, S&P Global, and HSBC all predict relatively comparable growth rates for the United Kingdom next year, with Britain outperforming the other G7 countries.
The Times claimed yesterday that the UK would catch up with and overtake international rivals, albeit at a slower rate than the 6.9 percent won (or rather recovered) this year. The UK is expected to revert to its pre-pandemic status as a result of this. In comparison, the United States is expected to gain 3.5 percent, Germany will gain 4 percent, Italy will gain 4.3 percent, France will gain 4.4 percent, and Japan will gain only 2.2 percent.
The UK fell worse than other major economies, with Covid and supply chain concerns hurting it the most as a result of the additional trade changes with the EU as a result of Brexit. However, the rebound is positive, as the FTSE 100 has risen ahead of the new year. The market is up 5.3 percent in December, and it is up 1.1 percent today, the most in 22 months.
As has been the case throughout the epidemic, any modifications to the virus, like as new strains, could result in more setbacks, as could the quickly growing inflation. Positive predictions are one thing, but positive outcomes are quite another.