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The UK economy will expand 7% in 2021 on COVID-19 vaccine rollout and Brexit trade deal, Goldman Sachs says

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A taxi travels along Oxford Street during a bus strike in London January 13, 2015. Members of the Unite union are staging a 24-hour bus strike over pay and conditions, local media reported. REUTERS/Suzanne Plunkett

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  • The UK’s economy will grow 7% in 2021 led by the coronavirus vaccine rollout and a Brexit trade deal, Goldman Sachs predicted Friday.
  • Over half of the country’s population is expected to be immunized by March, pointing to a significant rebound in economic activity from the second quarter of next year.
  • Although new trade restrictions are likely to weigh on potential growth in the coming years, the drag will mostly be slow to materialize, Goldman said.
  • UK GDP will end the year 11.7% under its pre-pandemic level, twice as much as Germany, France, and Italy. 
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