UK construction industry 'enters recession'

in #uk7 years ago (edited)


The UK construction industry has technically entered recession for the first time in five year.
The figures suggest the UK's building sector is "in the doldrums", according to one leading economist.

A decline in housing repair and maintenance together with less private commercial new work are behind the fall, the ONS said.

The trend is in stark contrast with the overall performance of the UK's industrial sector, which has recorded its sixth straight month of growth for the first time in 23 years.

Chris Williamson, IHS Markit's chief business economist, said: "While manufacturing is enjoying strong growth, construction is in the doldrums, entering a new technical recession.

"As seen in the recent PMI survey data, the commercial construction sector suffered the largest drop in output, highlighting how businesses appear to be pulling back on investing in new offices, factories and retail space.
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