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Thursday, 28 April 2011

Manufacturing drives UK GDP growth

The manufacturing sector played a pivotal role in helping to boost the UK's gross domestic product in the first quarter of the year and avoid a double-dip recession.

After a contraction in the final three months of 2010, the economy rebounded to expand by 0.5 per cent between January and March this year, with output in the manufacturing sector rising by 1.1 per cent overall.

Prime minister David Cameron responded to claims that the level of growth is disappointing following the largely weather-affected fourth quarter 2010 contraction by pointing out that job creation has expanded in the private sphere in the opening months of 2011, including the creation of sales jobs.

"The figures show manufacturing up, exports up, and we have got 400,000 more people in work in the private sector than we had a year ago," he commented.

Chancellor George Osborne added that continued recovery in the manufacturing recovery is "particularly good news".

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Posted by John OakADNFCR-1617-ID-800515744-ADNFCR

Source: The Sales Engineer News

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