The United Kingdom's economy has been facing some rough times as the Brexit situation is escalating and nearing a verdict soon. This has been affecting the economy is a drastic way to such an extent that the nation might be flirting with recession way before the world even declares recession on the global economic scale.
United kingdom has been seeing the withdrawal of capital from its markets as well as investment sectors with the fear of a no-deal Brexit that would cause the UK markets to crash and hence the investors to lose all their investments and capitals. But as the nation is suggesting it has been seeing a very slight change in the situation that the faith in the economy might be restoring. The nation’s film and entertainment industry are responsible for this small and steady growth of the world’s fifth-largest economy. the Office for National Statistics shows from its data that the UK economy grew by 0.3%, led by a strong motion pictures sector. Film and television have been a major driver of growth within the services sector over the last 2 years - and that trend has continued in the latest report. The services sector as a whole grew by 0.4%. Since 2008, film and television revenues have risen by 40%, to £3bn in 2018.
This new rise to the economy can just prove to be the push it needed to jumpstart its stalled economy, we expect this news to attract more investors and reinvent the faith in the UK economy.
Tags : entertainment industry, Brexit ,