Economy will grow strongly

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OECD predicts UK GDP will rise 5.1% this year UK GDP is now forecast to increase 5.1% this year and 4.7% in 2022, according to the Organisation for Economic Cooperation and Development (OECD). It said the recovery from the pandemic has been “faster than expected”, with global GDP now expected to grow 5.6% in 2021, up from a previous forecast of 4.2%. The OECD also said a stimulus bill from the US would also provide a boost to the country’s trading partners. But the Telegraph’s Ambrose Evans Pritchard says Joe Biden’s $1.9trn injection will run out of fizz after three months leaving the US economy looking at a short-term boom in the rear-view mirror.

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