UK forecast to return to pre-pandemic level early

The United Kingdom economy could return to its pre-pandemic level by the end of the year, some six months earlier than previously predicted, according to economic forecasting group EY Independent Treasury Economic Model, or the EY ITEM Club.

According to its latest quarterly report, the economy is set to grow at its fastest rate in 80 years, due to the efficient rollout of COVID-19 vaccines.

GDP is thus expected to grow by 7.6 percent, up from the previously anticipated 6.8 percent. It should further expand by 6.5 percent next year.