Encouraging growth for construction and wider UK economy
Published: 26 July, 2013
The UK economy grew by 0.6% in the second quarter of 2013 compared to the previous quarter and 1.4% compared to the same quarter a year ago, according to yesterday’s GDP figures, published by the Office for National Statistics (ONS).
In particular, construction increased by 0.9% quarter-on-quarter.
“The GDP figures show a second consecutive quarter of growth for the UK economy,” said Noble Francis, economics director at the Construction Products Association. “It also highlighted that construction positively contributed to GDP growth. Construction output was at its lowest in 12 years in the first quarter; however, information from within the industry suggests that the first estimate of 0.9% growth will be revised upwards in the ONS’ second and third estimates.
“We’re encouraged to see that all four major sectors within the UK economy are growing. It looks likely that forecasts for the sector and wider economy will be revised upwards.”