Neville Prior

UK Construction Industry Keeps Its Head

Neville Prior  9 September 2016 01:58:37 PM
Image:UK Construction Industry Keeps Its Head
Fears about the post-Brexit impact on the UK construction industry have dampened after the Office for National Statistics (ONS) reported that monthly output was merely flat in July. In its first statistical announcement on the sector since the European Union referendum, the ONS said “there is very little anecdotal evidence at present to suggest that the referendum has had an impact on output”. As a result, the ONS revised upwards its original second quarter estimate of UK gross domestic product which showed a decrease in output of 0.7%. The latest figures found that all new work increased by 0.5% while all repair and maintenance decreased by 1.1% in July. However, year-on-year construction output decreased by 1.5%. All new work, and repair and maintenance decreased by 0.6% and 3.2% respectively.
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