CPA: Encouraging growth for construction and wider UK economy
Today’s GDP figures, published by ONS, 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.’
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 a single voice for the construction products sector, representing the industry-wide view of its members. The sector has an annual turnover of more than £40 billion and accounts for over 1/3 of total construction output.
For further information contact:
Noble Francis: Economics director, Construction Products Association
Tel: 020 7323 3770
Fax: 020 7323 0307
Mobile: 0791 261 2882
E-mail: noble.francis@constructionproducts.org.uk
Jeff May: Marketing and communications manager, CPA
Tel: 020 7323 3770
Fax: 020 7323 0307
Mobile: 0790 447 6166
E-mail: jeff.may@constructionproducts.org.uk
Follow the Construction Products Association on Twitter: https://twitter.com/CPA_Tweets
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