The Bank of England has forecast the economy will grow this year at its fastest pace since the Second World War as Britain stages a vaccine-fuelled recovery.
The Bank predicts gross domestic product (GDP)—a measure of the size of the economy—will rebound by 7.25 percent in 2021 up from its previous prediction of 5 percent and the best year of growth since 1941. It comes after the pandemic saw the UK suffer the biggest drop in output for 300 years in 2020, when it plummeted by 9.8 percent.
