ONS figures show slight fall in Q4 construction output
Tuesday, 4 February 2014 | Admin
A slight drop in figures, but showing a general upward trend.
According to new figures published today by the Office for National Statistics (ONS), the UK economy grew by 0.7% during the fourth quarter of 2013. However, construction declined by 0.3% in the same three month period.
Commenting on the figures, economics director at the Construction Products Association (CPA), Dr Noble Francis, said: "The 0.3% decrease in the preliminary estimate for construction in 2013 Q4 was disappointing but followed an increase of 2.6% in the previous quarter. Furthermore, between 2012 Q4 and 2013 Q4, construction output increased by 4.5%."
He continued: "This GDP estimate shows that the construction industry's recovery is still in early days. Of the four main sectors, construction output was the only one to register a negative result. However, this was a marginal fall in the preliminary figures within a general upward trend, and our latest forecasts anticipate a 3.4% rise in construction output for 2014."