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The latest Construction Trade Survey published today, shows that the majority of the construction industry endured a difficult final quarter of 2012, due to declining output and orders on the demand side, combined with rising costs on the supply side.
Today’s GDP figures, published by ONS, show that the UK economy has fallen by 0.3 per cent in the final quarter of 2012 compared to the previous quarter and was flat compared to the same quarter a year ago. The main contributors to this fall were the manufacturing and mining and quarrying sectors, which fell 1.5 per cent and 10.2 per cent respectively. Construction overall fared slightly better, growing by 0.3 per cent quarter on quarter, however compared to the same period a year ago construction was 11 per cent down.
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