Top UK industries in the economic recovery
As the UK markets display subtle signs of recovery, new employment sectors lead the way in economic growth.
The past five years have delivered a tumultuous financial hand to the UK, with employment markets being rocked and reshaped by a shift in personal
and public wealth. As we witness the country continue with its first tentative steps on a long road to recovery, there is now a new geography to the
markets that are tipped to take the lead.
Recent government figures indicate that the last quarter of 2009 saw a 0.4% increase in the economy, which has offered some comfort for the first
quarter of 2010 and the notion that the country may still escape the wrath of a double dip. However, growth has not been equally spread across the
board, so if you are looking to change job, invest funds or simply keep an eye on the markets here is a short guide to the top industries that are
currently tipped to lead the UK out of recession.
With many businesses and individuals looking to streamline accounts, spending and budgets in the depths of the recession, as well as economise in
the lead up to the end of the financial year, it's no surprise that business services experienced strong growth, with a rise of 0.4%.
Transport, storage and communication
Also falling within service output, transport, storage and communications have also shown signs of recovery with a growth of 0.6%, a relative surprise
considering the continuing increase in oil prices and the resulting impact on transportation costs.
Despite more than a decade of decline, manufacturing is one of the few production industries to have experienced growth during 2009, with output
increasing by 0.8%. However, this could simply be interpreted as a result of the Government Scrappage Scheme, which has now finished and no
doubt will be checked closely in this quarter's accounts.
Distribution, hotels and catering industries
Despite growth remaining unrevised at 0.5%, overall service output is lookin