The current financial growth within the economy may indicate future trends for the office market

(prHWY.com) January 11, 2011 - Staffordshire, United Kingdom -- There has been an economic explosion in recent months as there has been a higher pace within the quarter than was ever expected. This is the case as growth has hit a height that has not been achieved in a decade, which may indicate that the commercial office market may see signs of growth.

Statistics supports these claims as they reveal that gross domestic product has significantly grown within recent months, unpredictably rising above previous forecasts and estimates.

This increase has been large, more so than any other in the last few years; a statistic that is in part due to increases within the construction industry, specifically commercial construction projects. This will no doubt create more office buildings within key areas, which will be great for up-and-coming businesses.

With the last couple of weeks this statistic has risen even further as the corporate sector has seen an increase in profits; which contradict earlier forecasts and reports from economists for the industry and country as a whole.

Although, most financial experts are warning that the next financial quarter is likely to have a noticeable and highly significant increase in the recovery rate and therefore any future gains of the magnitude recently seen, is highly unlikely.

An economist, Jo Locke, said, "Although recent growth by the end of the quarter seems extremely unlikely to match the figures for the previous financial quarter, it is nonetheless possible that the country may still increase its financial performance and achieve an extremely respectable level of output."

If this is the case then the country will undoubtedly see less unemployment as more companies are growing and taking on more staff. This expected growth could therefore be ideal for the office market as it could mean that the real estate market should have an increased occupancy rate as more businesses are taking offices to meet the needs of their expanding company.

As a result, many companies will undoubtedly use these statistics and forecasts as an indicator as to what will happen within their sector and will then use this data to make decisions about their company. Although, many financial experts are warning that the economy is not yet stable enough to make long term business decisions.

Richard Shipman at officebroker.com said, "These figures are extremely promising, specifically when they are combined with recent figures which show an equally strong increase in high street spending. But with austerity measures looming, economists warn us that the most recent statistics are as good as we can expect for the time being, because economic growth is more than likely to slow down towards the end of March"

This is also the expert opinion of Michelle Bundy, who is a prominent writer in the online financial magazine Financial Advice Today - MAT. They said, "The statistics, though promising, should only be used as a last resort. This is because the current GDP shows that the recovery that has been experienced is not secured or permanent. Many sectors are more than unlikely to maintain recent levels of economic growth in the up-and-coming quarter. However, I must say that from talking to various businesses many of them have recently taken London office space and upon initial assessments they seem to be thriving."

This being the case it is advised that businesses take this time to fully assess the market and make an informed decision about the future of their business. They should not act based upon a current estimate of the economic climate as it is likely to change a few months down the line. Rather a company should determine what the state of their company is and whether future economic changes can be accounted for.

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