RE: World economy to top $100 trillion in 202227 Dec 2021 20:30
Economists are pencilling in growth of 4.7 per cent next year, following estimated growth of 7 per cent this year.
The economy shrank 9.4 per cent last year, its worst performance for a century as Britain's businesses reeled from the coronavirus outbreak.
Deutsche Bank, Consensus Economics, and the Economist Intelligence Unit expect growth of around 4 per cent.
Panmure Gordon chief economist Simon French forecast the economy would grow 4.75 per next year, but a hard Covid lockdown would push this back to 3.3 per cent.
Professor Trevor Williams, of Derby University, has cut his 2022 forecast from 4.5 per cent to 3 per cent, while George Buckley, chief UK economist at Nomura, is looking for 4.5 per cent.
French said: 'The UK economy is, Covid permitted, expected to continue its rapid rebound in 2022 with low unemployment and high household cash reserves all contributing to a second successive year of above trend growth.'