Europe / Middle East / Africa
UK construction industry output fell in January
Mar, 19 2012
(UK) -- According to a report released by the UK's Office for National Statistics, the construction industry output of the UK in January 2012 fell by 12.3% MoM and was down by 2.3% YoY, while for the three month period ending January 2012, output was 10.6% QoQ.
Commenting on the figures, UK based Construction Products Association's economics director Mr Noble Francis said that "Overall, we are not particularly surprised that construction output has continued to decline, due to the effect of the public sector cuts. The government has made much play on private sector construction leading the recovery, as the public sector cuts begin to bite. Unfortunately from the ONS data out today, this recovery is just not happening and even commercial activity, usually the largest private construction sector, is showing a fall of 11%."
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