 bcc economic projection for the uk gdp bcc economic projection for the uk gdp barsha lun 27092021 1045 on june 10 2021 the british chambers of commerce bcc issued the newest economic projection which shows that the gdp of the uk will reach 68 in 2021 which will be the highest ever since the official record was started in 1979 the gdp is expected to be at its highest in quarter 2 and quarter 3 of 2021 if the covid limitations continue to relax in quarter 1 of 2022 the economy of the uk is forecasted to recover from the losses caused by the pandemic and reach a prepandemic level with 51 growth predicted for the year 2022 and 21 growth for the year 2023 business investment in 2021 and 2022 business investment is projected to generate a strong rebound with growth forecasted at 41 in 2021 and 68 in 2022 reopening of companies and the introduction of the enhanced deduction incentives might account for the expected growth nonetheless as the super deduction incentives expire and corporate taxes rise it is anticipated to fall by 12 percent in 2023 service and manufacturing even though there is an immediate growth in gdp the most recent forecast predicts a patchy rebound service output which was among the most impacted sectors by the covid19 is predicted to recover in 2023 only it is expected to grow 63 in the year 2021 52 in the year 2022 and by 2 in the year 2023 manufacturing output on the other hand is forecasted to rebound from the effect of covid19 in quarter 3 of this year it is expected to grow by 85 in the year 2021 45 in the year 2022 and 2 in the year 2023  employment unemployment in the united kingdom is expected to stay substantially low when compared with previous recessions once the furlough plan ends in quarter 4 of 2021 the unemployment rate in the uk is anticipated to rise at 60 with young unemployment reaching 156 the bcc predicted that the uk s young employment rate is 101 greater when compared with the unemployment rate throughout the projection period the unemployment rate of the uk predicted by bcc is 55 52 and 48 whereas for the youth unemployment rate with an additional 101 it is predicted to be 156 154 and 15  import and export it is predicted by the bcc that exports will grow by 7 in the year 2021 42 in the year 2022 and by 15 in the year 2023 whereas imports will grow by 51 in the year 2021 83 in the year 2022 and 29 in the year 2023 the gdp is expected to be at its highest in quarter 2 and quarter 3 of 2021 if the covid limitations continue to relax in quarter 1 of 2022 the economy of the uk is forecasted to recover from the losses caused by the pandemic and reach a prepandemic level with 51 growth predicted for the year 2022 and 21 growth for the year 2023 business investment in 2021 and 2022 business investment is projected to generate a strong rebound with growth forecasted at 41 in 2021 and 68 in 2022 reopening of companies and the introduction of the enhanced deduction incentives might account for the expected growth nonetheless as the super deduction incentives expire and corporate taxes rise it is anticipated to fall by 12 percent in 2023 service and manufacturing even though there is an immediate growth in gdp the most recent forecast predicts a patchy rebound service output which was among the most impacted sectors by the covid19 is predicted to recover in 2023 only it is expected to grow 63 in the year 2021 52 in the year 2022 and by 2 in the year 2023 manufacturing output on the other hand is forecasted to rebound from the effect of covid19 in quarter 3 of this year it is expected to grow by 85 in the year 2021 45 in the year 2022 and 2 in the year 2023  employment unemployment in the united kingdom is expected to stay substantially low when compared with previous recessions once the furlough plan ends in quarter 4 of 2021 the unemployment rate in the uk is anticipated to rise at 60 with young unemployment reaching 156 the bcc predicted that the uk s young employment rate is 101 greater when compared with the unemployment rate throughout the projection period the unemployment rate of the uk predicted by bcc is 55 52 and 48 whereas for the youth unemployment rate with an additional 101 it is predicted to be 156 154 and 15  import and export it is predicted by the bcc that exports will grow by 7 in the year 2021 42 in the year 2022 and by 15 in the year 2023 whereas imports will grow by 51 in the year 2021 83 in the year 2022 and 29 in the year 2023 on june 10 2021 the british chambers of commerce bcc issued the newest economic projection which shows that the gdp of the uk will reach 68 in 2021 which will be the highest ever since the official record was started in 1979  