2nd Quarter Growth at 1 1%; What Role For Energy

23 July 2010



Preliminary figures from the Office for National Statistics (ONS) suggests the UK economy grew by 1.1% in the second quarter, up from the previous quarter's 0.3%. While the figures are preliminary (and based on around 40% of the ultimate data), what they do show is that construction, a relatively small part of the economy, contributed significantly to this growth figure. With 6 out of 10 civil engineering firms looking to the energy and water sectors for their income streams, it seems energy has a role to play in underpinning the recovery.

Preliminary figures from the Office for National Statistics suggests the UK economy grew by 1.1% in the second quarter, up from the previous quarters 0.3%. The service sector, which accounts for about three-quarters of the UK economy, reported particularly strong growth in the business and finance elements (growth of around 1.3%). What was particularly interesting was the role of construction; though a relatively small part of the economy, it contributed significantly to this growth figure reporting its fastest gains since 1963. Interestingly in the same week, the NCE (New Civil Engineer) reported that 6 out of 10 civil engineering firms are looking to the energy and water sectors for their income streams citing the decline of road spending. Most companies surveyed all reported a switch to the energy and water sectors. With utilities playing a pivotal role in underpinning the recovery, it is imperative that the government plays its part by instilling confidence in its future development policy with clear messages to industry. read more ...


UK Government  Industry 

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11 June 2010


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Older News
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15 March 2010

Nothing's Joined Up

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22 February 2010


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