GDP figures, published by the ONS last month (March), reveal that construction declined 0.3% in the fourth quarter of 2013, despite a 0.7% rise in the UK economy overall.
Noble Francis commented:
‘The decrease in the preliminary estimate for construction in 2013 Q4 was disappointing but followed an increase of 2.6% the previous quarter. Between 2012 Q4 and 2013 Q4, construction output increased by 4.5%.
‘Of the four main sectors, construction output was the only one to register a negative result. However, this was a marginal fall within a general upward trend. Our latest forecasts anticipate a 3.4% rise in construction output for 2014.’
This article has been reproduced from the Contract Flooring Journal website. You can find them at www.contractflooringjournal.co.uk.