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Which is the fastest growing sector of the UK economy at the moment and why?
Wiki User
∙ 14y ago
In fact there are three main types of sectors in the UK:
1. The primary sector (raw materialism)
2. The secondary sector > aka. the manufacturing sector (turns raw materials from the primary sector into goods)
3. Tertiary sector > aka the service sector (producing services > for example education)
According to recent figures + the fact you can see in daily life in the UK it is said that the 3rd sector is the fastest growing sector of the UK economy. But still the question remains of why?
With rising incomes, consumers spend a larger and larger proportion of their incomes on services such as health, education and financial services.
So we can conclude that it is all about the income people get and that they spend a larger proportion each time on the big subgroups in the service sector.
Wiki User
∙ 14y ago
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