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:
‘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 almost inevitable that construction output will fall in the first quarter of the year and have a negative effect on the growth in GDP.’
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.
FOR FURTHER INFORMATION CONTACT:
Dr F. Noble Francis
Construction Products Association
Tel : 020 7323 3770
Fax : 020 7323 0307
Mobile : 0791 2612882