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The digital economy in the United Kingdom grew 72% faster than the rest of the economy, according to a recently released report by Tech Nation. The study which looked at the British economy during the previous five years found that the digital economy is creating jobs at an unprecedented rate.

In the United Kingdom, digital economy accounts for 1.56 million jobs. In the previous three years, the sector has seen a 10% growth. This is three times more than any other job market in the UK.

The study found that the average salary in this industry is among the highest, with an average £50,000. This is more than 36% higher than the national average.

Prime Minister Cameron said in a public statement that the U.K.’s “digital economy is expanding at an extraordinary pace, creating jobs and fuelling growth in regions and cities up and down the country, providing security and opportunities for working people”.

He pledged that the British government will use “all the levers” at their disposal in a continued support for technology firms in the sector.

Among those area with the highest increase in salaries in this industry are Leeds, Newcastle and Sunderland.

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A recent study has shown that the construction industry in the United Kingdom has seen significant growth this past February.

The survey showed that the Markit/CIPS purchasing managers’ index (PMI) increased, having reached 60.1 points. This is the highest level since October.

Alongside with the PMI, the British housing, commercial and civil engineering sector also shows signs of growth. This current week, another study that examined growth in the United Kingdom indicated a seven-month high in the nation’s manufacturing field.

In UK, construction amounts to about 6% of the entire economy.

Senior economist Tim Moore said to the press that these recent numbers highlight “renewed vitality within the UK construction sector”.

He added: “However, some construction companies noted that the uncertain general election outcome could prove a temporary bump in the road for new work.”

This past week, Taylor Wimpey, one of Britain’s largest homebuilders reported an increase in profits. With him, Bovis Homes, Persimmon and Barratt Developments also reported good numbers.

 

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