Construction Output Remains Subdued
Today’s figures from ONS for November Construction Output show no change from the low levels recorded in October. However, output is 1.6 per cent lower than in November 2010 when the industry was severely affected by bad weather.
Commenting on these figures, Noble Francis, Construction Products Association Economics Director said: ‘Construction output remains extremely subdued having fallen for three of the previous four months and output in the fourth quarter of the year is now likely to fall, mirroring the recent disappointing economic news from the manufacturing sector.
‘The recovery in private sector construction is still very sluggish and with the anticipated sharp falls in public spending on construction in 2012, the industry is now expected to see a fall in output of over 5per cent this year, with no sign of recovery until 2014.’