Re: Ironing
Time has told….
LONDON, July 27 (Reuters) - The International Monetary Fund has sharply revised up its growth forecast for Britain's economy this year after giving a more downbeat assessment in April when the country was only just beginning to relax COVID-19 restrictions.
British economic output slumped by almost 10% in 2020, its biggest drop in more than 300 years, as it suffered one of the world's highest official death tolls for COVID-19 and endured months of curbs on business and social activity.
But on Tuesday the IMF forecast Britain's economy would grow by 7.0% this year, the same as the United States and the joint-fastest growth rate among major advanced economies.
This was 1.7 percentage points higher than the IMF forecast in April, the biggest upgrade for a major economy.
But there is still room for Luddites