Britain’s prospects beat G7 average

The Organisation for Economic Co-operation and Development (OECD) has predicted that Britain’s economic prospects for 2020 and 2021 are stronger than the average across the G7 nations. The OECD’s forward looking index, which looks at confidence among consumers, manufacturers and the services sector, along with share prices, short-term interest rates, and new car registrations, now rates the UK at 97.4, above the G7 average of 96.7.

Meanwhile, the IHS Markit/CIPS Purchasing Managers' Index for July could bring fresh optimism this week, with Howard Archer, chief economic adviser to the EY Item Club, saying the figures “may show a bit of an improvement”. While the index saw services dragging down the economy in June, Mr Archer said: “I hope the lifting of restrictions on July 4 will have allowed the service sector to pick up.”

Read more: The Mail on Sunday

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