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