The UK construction industry has seen a very modest increase in output of 0.3% in the final quarter of 2012. This is a huge positive especially after the third quarter of 2012 saw a decrease of 2.5%.
The construction industry may have shown some signs of improvement but the same can’t be said about the UK as a whole, the UK economy contracted 0.3% in the last quarter of 2012 after a 0.9% growth the quarter before. (Provisional figures – possible amendments to follow)
Civil Engineering Contractors Association Director of External Affairs Alasdair Reisner said: “Today’s figures show that while there has been a modicum of growth in the construction sector, the overall drop in GDP places the British economy on a knife-edge.”
“Historically, negative growth in the economy dents investor confidence. Yet there are some investors that we will need to attract if we are to maintain and upgrade our national infrastructure.”
“It is vitally important that the government continues efforts to free up investment in Britain’s infrastructure sector. A failure to do so will put our sector at risk of further declines, with a corresponding negative effect on the wider economy.”
Recipro sourced this article from Construction Enquirer.