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Output slumps for UK construction industry

April 16th, 2013

THE weather-hit construction industry’s grim start to the year was highlighted in figures for February showing a 7% slide in output on a year ago.

While the sector grew by 5.5% when compared with the result in snow-bound January, the performance of firms is still down 16% on a quarter-on-quarter basis, the Office for National Statistics said.

Construction accounts for just under 7% of GDP and has contracted by 16.5% when comparing the last quarter of 2012 with the first quarter of 2008.

The February result has renewed fears that construction will be a serious drag on hopes of avoiding a return to recession.

Figures due on April 25 are expected to show growth of just 0.1% after the decline of 0.3% in the final quarter of 2012.

 

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