UK is set for its fastest period of economic growth since the Second World War – so beat the rush and invest in Bounceback Britain
By ROSIE MURRAY-WEST, FINANCIAL MAIL ON SUNDAY
PUBLISHED: 21:52, 15 May 2021 | UPDATED: 11:25, 16 May 2021
Are you ready for the Roaring Twenties? According to the Bank of England, the UK is set for its fastest period of economic growth since the Second World War as British consumers – armed with well-stocked bank accounts – rise like phoenixes from the ashes of lockdown.
Andrew Bailey, the governor of the Bank of England, forecasts 7.25 per cent growth in the UK economy this year. That’s a huge increase from the Bank’s February forecast of five per cent, while its estimate for unemployment has fallen sharply…
While Britain’s stock market has indeed ‘bounced back’, even the Bank’s bullish forecast would not return the UK economy to the level it was at pre-coronavirus in March last year…
And while those who piled into UK investment funds and UK stocks over the past six months have already done well, investment performance may not be as strong going forward…
Darius McDermott, managing director of Chelsea Financial Services, says: ‘The obvious sectors that should benefit from a strong recovery are those that have been hit hardest by Covid – travel, leisure and hospitality.
James Carthew, of research company QuotedData, likes investment trust BlackRock Throgmorton, the best smaller companies fund performer over the past five years.
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