UK industrial output has seen a massive surge with its biggest output in 3 years coming in April of this year. Manufacturing also rose a massive 4.4% since February of last year. The broader industrial production sector also posted big growths with North Sea Oil and mining at their highest for 3 years.
With both industrial and manufacturing output seeing a rise to 0.4% in the month of April alone, the UK gross domestic product is now above pre-crisis levels. This sort of robust momentum shows no great signs of slowing and spells a potential period of booming economic growth for the nation. In the same timeframe unemployment also fell by 161,000 to 2.16m taking it to around 6.6%, the lowest it has been for five years.
With GDP forecast to grow steadily by 2.9% this year and 2.4% in 2015, economic growth could see a sharp increase as well thus making Britain a prime target for investors at current whilst rates are still relatively cheap.
In other economic news that could provide a major boost to the country, tax incentives put in place to encourage more Hollywood investment and use of local film studios has seen the confirmation of the next two Star Wars films, along with many other major blockbusters, coming to Britain. The first has already begun filming whilst the next will start in 2015.
The UK has a grand history of film production, with its studios in Pinewood, Leavesden, Ealing and Elstree producing massive hits since their inception, and with this further boost likely to attract many billions of dollars from international film studios as well as providing jobs and employment opportunities and lend an air of glitz and glamour to the economic upturn. Investment in UK based film production saw a jump of 14% from 2012 to 2103 with more than £1bn coming in. This looks set to increase further with new measures in place.
Construction may also soon be a provider of positive news to the economy with the governments Help to Buy scheme fuelling projects across the nation as well as rebuilding projects after a series of winter floods.
With money and productivity coming in from various sectors and positive forecasts of growth, the country looks set to go from strength to strength and savvy investors could do well for themselves on the island nation with plenty of prospects in all fields looking set to make money.
For more information on incorporating in Britain or check out other European incorporation options at https://www.openaeuropeancompany.com/ or send us an email at info@openaeuropeancompany.com
