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Economy

• Up 2.9% from the previous year, the East of England economy was worth £93bn in 2006 and this growth is set to continue with the region’s economy forecast to grow by a further 12% between 2008 and 2012.
• The split of output between sectors in the East of England is very similar to the national average. In keeping with this, financial and business services is the largest sector, followed by public services.
• Financial and business services is also expected to be the fastest growing sector over the forecast period.

Output

• Construction output in the East of England was worth £8.1bn in 2006, in 2000 prices. This is forecast to grow at an annual average rate of 2.3% between 2008 and 2012.
• Infrastructure is set to be the fastest growing sector followed by public housing, but all new work sectors are forecast to see growth between 2008 and 2012.
• Total construction output growth in the region is forecast to be above a UK average of 1.7%.

Employment

• An increase of 28% in total construction employment is forecast between 2006 and 2012.
• To meet this demand, after taking account of those entering and leaving the industry, the East of England requires an extra 11,010 construction workers each year.
• Electrical trades and installation have by far the largest average annual requirement at 1,640.

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