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MR in Top Ten UK Growth Industries
Figures released this week from the Office for National Statistics show that the UK's market research industry was one of the ten fastest growing sectors of the last decade. The data reveals a continued decline in the value of manufacturing and agriculture, while computer and financial services take prominence.
The figures are based on official tracking of the movement of goods and services through the economy. In its UK Input-Output Analyses 2005 report, the ONS lists the ten fastest growing sectors between 1992 and 2003 as follows.- Computer and related services
- Other business services (including employment agencies, security, industrial cleaning and call centres)
- Insurance and pension funds
- Recreational and sporting activities
- Owning and dealing in real estate
- Letting of dwellings
- Market research, management consultancy etc
- Construction
- Hotels, catering, pubs
- Retail distribution.
The sectors are ranked according to percentage and value change in monetary terms.
Business and financial services continued to form the largest single sector of the UK economy in 2003, accounting for 31.7% of total UK gross value added (GVA), up from 27.6% in 1998. Meanwhile, the manufacturing industry contributed less than 15% of economic output in 2003, having falling every year since 1998 when it stood at 20.1%.
The relative contribution of the construction industry increased each year from 1998, from 5.1% in 1998 to 6.2% in 2003, and the creative sector's contribution in 2003 was also up, to 9.2% from 8.7% in 1998. The agricultural sector's contribution fell below 1% for the first time in 2001, following the impact of foot and mouth disease, but in 2003 recovered to just over 1%.
More details of the latest report are online at www.statistics.gov.uk
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