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Construction Products Association Remains Cautious About Construction Prospects

Construction Products Association Remains Cautious About Construction Prospects

Despite the latest ONS figures for construction output in February which show an increase of 6% compared with January, the Construction Products Association remains cautious about the prospects for the industry for the rest of the year.

Commenting on these figures, Noble Francis, the Association’s Economics Director said:i

‘February’s positive figure has to be seen against the background of a 13% decline in output in January and is 5% below the level of output in February last year. Construction faces a very uncertain future with the latest new orders falling 14%, and private sector investment still not growing at a rate to compensate for the sharp falls in public sector spending on construction. Despite these positive figures for February it is now inevitable that construction output will fall in the first quarter of the year and have a negative effect on the growth in GDP.’

ENDS
NOTE TO EDITORS:

The Construction Products Association represents the UK’s manufacturers and suppliers of construction products, components and fittings. The Association acts as the voice of the construction products sector, representing the industry-wide view of its members. The sector has an annual turnover of £50 billion and accounts for 40% of total construction output.

Kind regards,

Noble

Dr. F. Noble Francis
Economics Director
Construction Products Association
The Building Centre
26 Store Street
London
WC1E 7BT

Tel: 0207 3233770
Fax: 0207 3230307
email: noble.francis@constructionproducts.org.uk
web: http://www.constructionproducts.org.uk