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Forecasting Economies

On Monday 12 April
the UK economy took its next step towards recovery with the opening
of a range of businesses including pub gardens, non-essential shops
and indoor leisure facilities. With the vaccination programme on
track, the UK seems at present to be faring better than some other
economies. It’s a point which was borne out by the International
Monetary Fund’s (IMF) April economic forecast which upgraded its
January projections for UK recovery to growth of 5.3% this year and
5.1% in 2022.

In the question and
answer session which accompanied the briefing the point was made that
the UK is projected to be amongst the strongest growing advanced
economies in 2021. However, that growth has to be viewed on the back
of the UK seeing one of the largest contractions in 2020. So does the
2021 forecast mean that investors should be prioritising UK funds?
Well not really. Focus on too narrow a band and investments could be
disproportionately affected should an adverse event occur. That’s
why best practice advice is to spread investments over different
business and world sectors in order to spread risk.

If you are looking for advice on investments,
or if your situation has changed and you may therefore need to review
your existing pensions or investments, contact Beckworth by using one
of the links on our website.