Services sector.docx - Services sector The services ector...

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Services sector... The services ector has been the major driver of the growth in the economy of the United Kingdom. This is because the statistics from the Office for National Statistics (ONS) state that it accounted for three-quarters of the output that has been registered in the growth. On the other hand, the expansion in the manufacturing sector fell to just 0.2 per cent while the constructon sector underwent a reduction of 0.5 per cent. This downplayed the possibility of rebalancing the recovery away from the dependency of spending by the consumer as a driver of economic growth. The ONS therefore argues that the main downside of the growth in the second quarter of the performance is that it was more on the output side, which may not be necessarily good for a struggling economy. Services sector such as the hopitality industry that includes hotels and tourism have therefore been the major drivers of the growth that has been registered in the United Kingdom. This is because they have created jobs in the numerous hotels and tourism activities that have been encouraged by the government. Pointedly, the UK government has been at the forefront in encouraging this growth as it has helped in creation of employment opportunities that have led to increase in taxes hence the growth to pre-recession levels.
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  • Spring '16
  • British people

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