UK's Construction Recovery to Continue - 0 views

• 
  #1 Colid Stead on 01 Nov 14

   

  In what is sure to be
  welcome news for manufacturers and workers across the United Kingdom, the
  British Chamber of Commerce has recently announced that their forecast of a
  4.3% increased in economic growth for 2014 is likely to be followed by similar
  numbers in 2015 and 2016, all of which will translate to production increases
  in the construction industry.

  
  
  

  It's no secret that both England
  and the European Union at large have suffered greatly during the recent
  financial crisis. For those employed in manufacturing-related professions, the
  global economic recession has proven to be particularly painful, with contracts
  for construction disappearing and the number of available contract jobs
  disappearing rapidly.

  
  
  

  Recently, however, the news
  has become somewhat brighter for this particular industry. Significant growth
  has occurred throughout England this past year, and many economists are
  projecting that this is simply the beginning of a much larger trend in the
  area. The UK's gross Domestic Product, for example, is now
  predicted to move ahead by 3.2% in 2014, an increase of .1% over earlier
  projections. GDP projections have also been revised for the 2015 fiscal year,
  with current estimates pointing to a 2.8% expansion, .1% greater than earlier
  estimates.

  
  
  

  Many are pointing to these
  economic trends as a sign of England's increasing prominence
  within the global economy. According to BCC chairman John Longworth, "We are leading, rather
  than following, other major economies when it comes to short-term growth."

  
  
  

  All of this news, of
  course, also translates into further optimism related to the national
  unemployment rate.  If all goes as
  planned, the UK national unemployment rate could be near 5.5% at this time next
  year, further reducing to 5% two years from now.

  
  
  

  Interest rates will play a
  determining role when charting a course for England's
  future economic growth. Longworth, along with many others, believe that these
  rates must be handled very carefully if the UK economy is to maintain its
  current upward trajectory.  The general
  consensus is that interest rates should slowly growth, without making any
  significant leaps or hikes in the short-term future. As has been seen in recent
  history, however, there may yet be unexpected surprises awaiting the UK economy
  at large.

  
  
  
  
  
  

   

  <div class="cArrow"> </div><div class="cContentInner"><p>In what is sure to be <br /> welcome news for manufacturers and workers across the United Kingdom, the <br /> British Chamber of Commerce has recently announced that their forecast of a <br /> 4.3% increased in economic growth for 2014 is likely to be followed by similar <br /> numbers in 2015 and 2016, all of which will translate to production increases <br /> in the construction industry. </p> <br /> <br /> <p>It's no secret that both England <br /> and the European Union at large have suffered greatly during the recent <br /> financial crisis. For those employed in manufacturing-related professions, the <br /> global economic recession has proven to be particularly painful, with contracts <br /> for construction disappearing and the number of available contract jobs <br /> disappearing rapidly. </p> <br /> <br /> <p>Recently, however, the news <br /> has become somewhat brighter for this particular industry. Significant growth <br /> has occurred throughout England this past year, and many economists are <br /> projecting that this is simply the beginning of a much larger trend in the <br /> area. The UK's gross Domestic Product, for example, is now <br /> predicted to move ahead by 3.2% in 2014, an increase of .1% over earlier <br /> projections. GDP projections have also been revised for the 2015 fiscal year, <br /> with current estimates pointing to a 2.8% expansion, .1% greater than earlier <br /> estimates. </p> <br /> <br /> <p>Many are pointing to these <br /> economic trends as a sign of England's increasing prominence <br /> within the global economy. According to BCC chairman John Longworth, "We are leading, rather <br /> than following, other major economies when it comes to short-term growth."</p> <br /> <br /> <p>All of this news, of <br /> course, also translates into further optimism related to the national <br /> unemployment rate.  If all goes as <br /> planned, the UK national unemployment rate could be near 5.5% at this time next <br /> year, further reducing to 5% two years from now. </p> <br /> <br /> <p>Interest rates will play a <br /> determining role when charting a course for England's <br /> future economic growth. Longworth, along with many others, believe that these <br /> rates must be handled very carefully if the UK economy is to maintain its <br /> current upward trajectory.  The general <br /> consensus is that interest rates should slowly growth, without making any <br /> significant leaps or hikes in the short-term future. As has been seen in recent <br /> history, however, there may yet be unexpected surprises awaiting the UK economy <br /> at large. </p> <br /> <br /> <br /><br /><br /></div>

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