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Economy

• The East Midlands economy is forecast to grow at an annual average rate of 2.7%, stronger than the UK average.
• In 2006 the East Midlands economy was worth £70.3bn, equivalent to approximately 6% of the UK total. Public services generated 22% of economic value, with financial and business services contributing a further 19%. Distribution, hotels and catering was the third largest economic sector.

Output

• Worth £5.8bn in 2006, in 2000 prices. Construction in the East Midlands accounts for around 7% of the UK total.
• Output is forecast to grow at an annual average rate of 1.2% between 2008 and 2012.
• Work to improve the region’s education facilities will drive the industry forward over the short-term, with four East Midlands local authorities involved in the first three waves of the Building Schools for the Future programme.
• Construction output growth in the East Midlands is forecast to be slightly weaker than a national average of 1.7%.

Employment

• Total construction employment of 158,100 in 2006 in the East Midlands is forecast to rise to 188,610 in 2008 and 198,130 in 2012.
• To meet this demand, after taking into account those entering and leaving the industry, 4,530 new workers will be required to join the industry each year.

Wood trades and interior fit-out, electrical trades and installation and construction professionals and technical staff are expected to have the largest annual requirements.

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