Construction drags down Q1 GDP

Latest News Wed, May 9, 2018 8:03 AM

The ONS has 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.

Construction activity is estimated to have fallen 3.3% over the period, compared to growth of 0.7% for industrial production and 0.3% for the services sector.

The preliminary estimate incorporates 45% of total data for the quarter and will be subject to revisions.

Rebecca Larkin, Senior Economist at the Construction Products Association, commented: “This preliminary estimate gives the first full indication of how construction was affected by the liquidation of Carillion in January and the adverse weather at the end of February and beginning of March.

"The quarterly decline of 3.3% was the worst since 2012 Q2 and implies a £1.3 billion loss of output in the opening months of 2018.

“Some degree of catch-up is expected throughout Spring and Summer, but on the CPA’s forecasts, amid continued economic uncertainty and weakness in commercial construction, output for the year is still expected to be flat at best.”

Featured News

Specification news
UKGBC and Innovation Gateway to boost innovation in the...

The UK Green Building Council (UKGBC) and Innovation Gateway have announced a...

Read More >>

Specification news
New Commercial Director Joins W.Howard Team

Leading MDF profile supplier, The W.Howard Group will this month welcome new Group...

Read More >>

BUILDING PRODUCT LIBRARY - LATEST BROCHURES

Next-Generation Door and Window System Brochure

Next-Generation Door...
By Senior Architectural...

Download Now >>

IP Connect  Brochure

IP Connect
By ISM Ltd

Download Now >>

Armaseame - Metal Roofing Systems  Brochure

Armaseame - Metal Ro...
By Alumasc Roofing Syst...

Download Now >>

Ultra Quiet Ecodan Brochure

Ultra Quiet Ecodan
By Mitsubishi Electric

Download Now >>

How UfAC works Brochure

How UfAC works
By AET

Download Now >>

BUILDING PRODUCT DIRECTORY - LATEST PRODUCTS

FX Rainscreen and Insulated Panels

Metalline has continuously invested in state of the art machinery and tooling meaning we can offer...

Read More >>

Unity Aluminium Rainscreen Cladding Panels
Unity Aluminium Rainscreen Cladding Panels

Metalline offer a wide range of integrated aluminium cladding rainscreen panels and façade systems....

Read More >>

Roofing Underlays & Accessories
Roofing Underlays & Accessories

The Protect range of roofing underlays provides the complete solution for all types of tile and...

Read More >>

CONSTRUCTION VIDEOS - LATEST VIDEOS

“These are the bricks on which we are built…”
“These are the bricks on which we are built…”

Wienerberger: Our Four Cornerstones - For a better quality of life Quality & Expertise. Value....

Watch Now >>

How to create step riser
How to create step riser

This video demonstrates an installation of SureSet resin bound step risers, otherwise known as...

Watch Now >>

Closed-Loop Recycling Story
Closed-Loop Recycling Story

This is how Eurocell keeps 1 million windows out of Landfill Every Year!

Watch Now >>