Will firms turn to facilities management after narrow GDP growth?
April 23rd 16:50 Cost Management
The UK economy experienced a narrow growth in the first three months of 2010, according to the latest figures.
Data released earlier today by the Office for National Statistics (ONS), revealed that in the first quarter of the year, GDP increased by just 0.2 per cent.
Although the report is only a preliminary estimate, this could encourage a number of organisations to consider effective facilities management as a way of reducing their operating costs.
The situation is not quite so bleak for enterprises working in the business services and finance sector as this industry posted a growth 0.6 per cent, following on from a 0.4 per cent increase in the previous three-month period.
However, the ONS report also showed that there was a negative growth in the distribution, construction and hotel and restaurant sectors.
Liberal Democrat treasury spokesman Vince Cable said the figures mean the danger of a double-dip recession remains "real".
"There is a real danger of the UK going into a double dip recession. As people deal with their own debts and as the banks continue to strangle good British businesses by starving them of credit the recovery will remain fragile," he commented.
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