From HEFCE news

Universities’ support for the economy increasing in tougher times

Universities and higher education (HE) colleges in the UK provided ideas and services worth £2.812 billion (Note 1) in 2007-08, according to an annual survey published today. This is the highest level on record and a rise of 6.5 per cent on the year before.

Comes as a good news as “demonstrating impact” is now irreversibly part of the HE and research councils ever growing collection of buzzwords.

Or is it just that as industry is slowing down due to recent economic downturn while HE institutions have not been shaken so badly yet, hence proportionally speaking, better perf from HE?