It's heartening to see business confidence grow as we approach the end of the pandemic restrictions. It's currently at its highest since these sort of records began back in 2004 ...
The 21st of June is when all restrictions are supposed to end, and even if it's delayed by a few weeks to account for the Delta variant (originally called the Indian variant, but the WHO has reclassified them all), most businesses are feeling positive again. Consumer spending is expected to skyrocket in the second half of 2021.
Yes, some uncertainty remains about subsequent restrictions and lockdowns should a more virulent strain appear, however, we're expecting a 7% growth in the economy over the next 12 months, which far outstrips equivalent countries and blocks around the world.
Other notable expectations:
- Exports up by 3.6%
- Investments increased by 2.8%
- R&D growth by 1.9%
- Employment rises by 2.5%
So, this is all great news for the United Kingdom and everyone is expecting a lot of growth in the coming year. But (isn't there always a, but?) the UK is a trading nation, so slow vaccine rollouts in other countries can affect our supply chains.
It's good that the likes of the G7, WHO and the United Nations have realised this connection and are making plans to help get the vaccine out to poorer countries around the world by 2022.
If you feel inspired to find out more about anything I've said here, do call me on 01908 774320 or leave a comment below and I'll be in touch as soon as I can.