This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-19210196#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
UK construction output fall better than expected | UK construction output fall better than expected |
(4 days later) | |
Construction output in the UK has fallen in the second quarter, official figures have shown, although the drop was less than expected. | Construction output in the UK has fallen in the second quarter, official figures have shown, although the drop was less than expected. |
Output from the sector fell by 3.9% between April and June from the previous quarter, compared with an earlier forecast of a 5.2% drop, the Office for National Statistics said. | Output from the sector fell by 3.9% between April and June from the previous quarter, compared with an earlier forecast of a 5.2% drop, the Office for National Statistics said. |
Compared with a year earlier, output fell by 9.5%. | Compared with a year earlier, output fell by 9.5%. |
A significant fall in new infrastructure projects dragged activity lower. | |
Mark Farrar, chief executive of the Sector Skills Council said the new figures "show a continuing trend for the construction industry - times are tough and there is no sign of a change in fortunes". | Mark Farrar, chief executive of the Sector Skills Council said the new figures "show a continuing trend for the construction industry - times are tough and there is no sign of a change in fortunes". |
He said the data was particularly disappointing because of a slump in repair and maintenance work. | He said the data was particularly disappointing because of a slump in repair and maintenance work. |
"With 26 million energy-inefficient homes in the UK, the retro-fitting of green technology to improve environmental performance is a huge opportunity to provide an immediate financial injection to the industry - but this opportunity remains untapped," he said, as he called on the government for more investment in the sector. | "With 26 million energy-inefficient homes in the UK, the retro-fitting of green technology to improve environmental performance is a huge opportunity to provide an immediate financial injection to the industry - but this opportunity remains untapped," he said, as he called on the government for more investment in the sector. |
However, others saw glimmers of hope. | However, others saw glimmers of hope. |
"The good news is that construction output fell less in the second quarter than had been estimated, which boosts the prospects of a significant upward revision to the second-quarter GDP data," said Howard Archer, chief UK and European economist at IHS Global Insight. | "The good news is that construction output fell less in the second quarter than had been estimated, which boosts the prospects of a significant upward revision to the second-quarter GDP data," said Howard Archer, chief UK and European economist at IHS Global Insight. |
The Bank of England on Wednesday said it expects zero growth in the economy this year. | The Bank of England on Wednesday said it expects zero growth in the economy this year. |
Previous version
1
Next version