GDP figures indicate growth in 2nd Quarter of 2010

The GDP figures released from the Office of National Statistics last Friday bode well for the economy.  The mixed economic news suggests, however, that one swallow does not make a summer.

The 1.1% positive growth in the second quarter of 2010 of GDP – (Gross Domestic Product being the measurement of the country’s gross output) – was due mainly to business services, finance and the construction sectors. The comparatively good growth was offset by a decline in transport, storage and communication sectors.

The construction sector performed with the highest increase for some years with a growth of 6.6%, compared to a decrease of 1.6% in the last quarter.
26th July 2010