The British economy is Expected to Grow Better Than Its US Counterpart in 2021

A report by Goldman Sachs expected that the British economy would record a faster growth pace than its US counterpart, with the acceleration of the distribution of anti-virus vaccines in the United Kingdom.

The British government succeeded in delivering the vaccine to nearly half of the UK population, who received their first dose of the vaccine, which contributed to easing the precautionary measures restrictions in non-essential stores and open bars, according to Market Watch.

Goldman Sachs experts now expect Britain’s GDP to grow by 7.8% in 2021, compared to an expected growth rate for the US economy of 7.2%.

If these expectations are fulfilled, the British economy will have recorded the highest growth rate since World War II.

The revision of the expected growth rate for the British economy exceeds expectations of the latest expert opinion poll conducted by Bloomberg, which expected the British economy to grow this year by 5.5%.

The improvement in forecast also comes with expected efforts in Britain, which recorded the worst economic performance among the seven major countries during the past year, with the British economy shrinking by 9.8% in 2020.

The US economy is expected to record its best growth in nearly four decades during the current year.

Accelerating the distribution of vaccines and adherence to precautionary and preventive measures contributed to reducing the rate of infection and the spread of the virus, as the death rate decreased by about 97% after reaching the highest levels during the second wave of the pandemic, and the number of patients who needed hospitalization decreased by 4% compared to the level recorded in January. The past, according to official statistics.

It is now expected that stores and restaurants will return to normal levels by July, with a gradual recovery in public spending levels.

Analysts of the American Investment Bank consider the retail sales growth of about 5.4% during the month of March, and the current productivity measure reaching the level of 7.1% on an annual basis in April, among many signs that support their expectations for a significant growth of the economy by 5.5% during the second quarter of this year.