Bounceback! IMF says UK economy to outgrow EU

THE UK economy will bounce back from the pandemic at the fastest rate among the developed nations, outpacing the eurozone, a report suggests.

- GeoffHo

The International Monetary Fund (IMF) said it expected UK economic output to explode by seven per cent this year – a pace it thinks will be matched only by the United States.

In April the body’s economists had predicted 5.3 per cent growth.

Boris Johnson tweeted: “Good signs that our economy is bouncing back faster than expected.

“There are still challenges ahead and we are focused on supporting people through our Plan for Jobs.”

Chancellor Rishi Sunak welcomed the “positive signs” but added: “We still face challenges ahead as a result of the impact of the pandemic.”