Article 153X7 UK GDP spurred on by services sector, but the growth is built on cheap labour

UK GDP spurred on by services sector, but the growth is built on cheap labour

by
Phillip Inman Economics correspondent
from on (#153X7)

We are simply using new technologies spawned by the internet to run faster for very little gain

The internet saved the economy. Or at least the British consumers' obsession with all things internet. Oh, and a property boom that has filled estate agents' pockets.

That's the only conclusion one can draw from the figures for GDP growth in the final quarter of 2015, which show that galloping services sector output more than made up for the damage done to factory orders by the downturn in global trade and the strictures placed by George Osborne on government spending.

Related: UK economic growth confirmed at 0.5% but fears of slowdown persist

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