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Construction decline holds back UK economy

April 28th, 2010

Nominal growth of 0.2% is hampered by decrease of 0.7% in construction sector

A nominal growth in the UK economy of 0.2% between January and March was hampered by a shrinking construction industry.

Figures from the Office of National Statistics revealed that the economy had a 0.2% growth, which was weaker than some economists had predicted and down from the 0.4% experienced in the final quarter of 2009. However, construction decreased by 0.7%, compared with a decrease of 0.9% for the sector in the final quarter of 2009.

The ONS said that bad weather at the start of 2010 may have been to blame for the growth being smaller than predicted. Two further estimates based on more detailed information will be released for the first quarter of 2010, meaning the figure could be adjusted.

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