Published on : Saturday, July 27, 2013
Recent GDP figures show that the UK economy grew by 0.6 per cent in the second quarter of 2013 compared to the previous quarter and 1.4 per cent compared to the same quarter a year ago. In particular, construction increased by 0.9 per cent quarter-on- quarter.
Commenting on these figures, Noble Francis, Economics Director at the Construction Products Association, said: ‘The GDP figures released today show a second consecutive quarter of growth for the UK economy. 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 per cent growth will be revised upwards in the ONS’s 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.’