With lockdowns being lifted, the British private sector has reported its fastest growth in more than two decades, with numbers in May hitting their highest points since HIS Markets began in 1998, led by the service sector.
RT’s Boom Bust welcomed Hilary Fordwich, the president of Strelmark BD Consultants, to discuss a thriving economy which is walking hand-in-hand with rising inflation.
Fordwich noted that the pound had bounced back to about 1.42 against the US dollar, up from 1.20, where it was after the Brexit vote in 2016.
“This refutes all the gloom and doom of Brexit; despite Covid and the lockdown and everything, look how well the British economy is doing,” she said.
The business developer added that the upsurge was being led by hotels, restaurants, and consumer-facing services, as the UK’s severe lockdown had been “much more restrictive than the US ever was.”
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