Tuesday, October 26, 2010

Construction sector boosts GDP growth figures

UK's growth even though has dropped to 0.8% from 1.2% in the previous quarter is higher than expected. Much of this growth reports say have been due to the recovery in the construction sector. There are very few sectors that are contributing to this higher growth one of which is is construction-it contributed 11% to growth from the beginning of the year to now.
It could have grown at a higher rate however due to the first three months of the year having bad weather conditions this rate is lower.
It is said that construction being the worst hit sector during the recession has the most potential to grow whereas services which was least hit has the least potential to grow!

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