The Office of National Statistics (ONS) today reported falls in construction output for Q4 of 2014 and Q1 of 2015, suggesting that the construction industry has technically entered recession.
The Construction Products Association (CPA) points out, however, that the official data contradicts a growing body of recent evidence from itself and other industry sources. Several independent organisations, including Experian and Markit / CIPS, have similarly reported growth in construction activity. These findings were reinforced this week by the Bank of England, which published its latest Inflation Report highlighting concerns with the comparative figures.
The Construction Products Association originally wrote to the ONS to raise this issue following the release, in April, of the original Q4 estimate. The CPA and ONS met in early May, and are currently working together to address this matter.
ENDS
NOTE TO EDITORS:
The Construction Products Association represents the UK’s manufacturers and distributors of construction products and materials. The sector directly provides jobs for 300,000 people across 20,000 companies, has an annual turnover of more than £47 billion and accounts for over 1/3 of total construction output. The Association acts as the leading voice to promote and campaign for this vital UK industry.
The State of Trade Survey is one of a range of economic publications produced regularly by the Association, including the Construction Trade Survey and the Construction Industry Forecasts.
FOR FURTHER INFORMATION CONTACT:
Noble Francis
Economics Director
Construction Products Association
Tel: 020 7323 3770
Mobile: 0791 261 2882
E-mail: noble.francis@constructionproducts.org.uk
Jeff May
Marketing and Communications Manager
Construction Products AssociationvTel: 020 7323 3770
Mobile: 0790 447 6166
E-mail: jeff.may@constructionproducts.org.uk
Follow the Construction Products Association on Twitter: https://twitter.com/CPA_Tweets