12 March 2019 The UK economy grew slightly in the quarter to January according to new figures from the Office of National Statistics (ONS). In January, the rise was 0.5% and over the quarter it was 0.2%. The ONS said that IT, health services and wholesale trading were up but manufacturing of metals and cars, and construction repair work were down. The headline figures do not explain why these rises have happened. It is possible that wholesale trading has increased because of stockpiling before Brexit, or it may indicate optimism for future retail sales. Andrew Wishart, from Capital Economics, told the BBC that the transport and storage sector fell in January, which indicates that stockpiling is not driving wholesale trading growth. The services sector rose by 0.3% in January after falling 0.2% in December. This sector is important to the UK economy because it accounts for 80% of the private sector.
Questions What is happening in the UK economy? Is this similar to your economy? What is happening in your company?
Vocabulary Find a word in the text that fits the definition. Highlight below for solutions
grow, grew, grown – to get bigger slightly – in a small way the quarter to – three months ending in a rise – an increase over the quarter – during the three-month period wholesale – business to business selling B2B stockpiling – buying more than you need and keeping it to fall – to get smaller to indicate – to show or suggest optimism – a good feeling about the future retail – business to public selling B2C storage – warehousing to drive (growth) – to make things (grow) to account for – to be counted as
Can you use these phrases to describe changes in your economy?
What tense is used in the first two paragraphs? Why? Highlight below for solutions The past simple is used because the events happened in a period of time that is finished. More past form grammar, click here