A look at our forecasts for 2021 reveals more hits than misses. While the consensus thought GDP would grow by 5.4% in 2021, we forecast that it would rise by 7.5%. We don't yet have data for Q4, but the indications are that the economy will grow by about 6.8%. Our once-unorthodox view on long-term economic scarring effects is now the conventional view. And our fiscal forecasts weren't a million miles out either. When it comes to 2022, the two big risks are the shadow cast by the rapidly worsening Omicron outbreak and the possibility of longer-lasting supply constraints.
– This will be the last Economics Weekly for 2021. The next Weekly will be sent on Friday 7th Jan. 2022 –
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