The ONS today published its preliminary estimate for GDP in the first quarter of 2018. The release shows that the economy grew by just 0.1%, down from 0.4% in 2016 Q4 and its slowest growth since 2012 Q4.
After a weak start to the year following the demise of Carillion in January and adverse weather across the country in February and March, the Construction Products Association’s Spring forecasts anticipate construction output growth for the whole of 2018 will remain flat, before accelerating to 2.7% in 2019 and 1.9% in 2020.
ONS figures published today show that construction output decreased 1.6% in February, led by a 9.4% fall in activity in the infrastructure sector. Rebecca Larkin, Senior Economist at the Construction Products Association, comments on the figures.
The CPA’s State of Trade Survey for 2018 Q1 shows that the £56 billion UK construction products manufacturing industry suffered a weak start to 2018, in a quarter that combined the liquidation of Carillion and several days of disrupted activity due to snow and freezing temperatures.
The CPA are aware a number of trade associations have contacted BEIS to ask how firms should pursue claims for title relating to materials, other products or equipment left on site following the demise of Carillion.