Britain is 5th largest economy

Britain becomes the world's fifth-largest economy

Analysis by the Centre for Economic and Business Research (CEBR) shows that the UK has become the world's fifth-largest economy once again, leapfrogging India despite a cumulative fall in GDP of 21.2% in the first half of 2020. The CEBR predicts annual growth of 4% for the UK until 2025 after which it will fall to 1.8% annually until 2030. It also predicts that China will overtake the US to world’s largest economy by 2028. Meanwhile, the CEBR expects the UK economy to grow at its fastest rate since the Second World War this year, saying national income could rise by 8% in 2021 as Britons start to spend the £200bn that has been saved during the coronavirus crisis. This is fantastic news for the motorsport industry which has endured one of its toghest years ever in 2020.