Accreditations
Construction sector remains stagnant in 2011's Q4
10 February 2012
There are few signs that Britain will be building its way out of the economic recession as the Office for National Statistics releases its data on the fourth quarter of 2011.
The Output in the Construction Industry report indicates that the fourth quarter construction output fell by 0.5 per cent when compared against the third quarter.
Construction output also increased 0.9 per cent over the fourth quarter 2010, while year-on-year there has been a 2.8 per cent increase.
These figures give little reason for Britons to see the construction industry as the answer to country's recession woes, as it has been in the past.
Britain's construction industry, like most areas of the economy, has stagnated since 2010 when it began to recover from the worst year for construction on record which saw a 13.4 per cent drop in output in 2009.
Construction workers are unlikely to find much consolation in the outlook for 2012.
The Royal Institution of Chartered Surveyors (Rics) has found that only 14 per cent of surveyors believe the government will meet its promises to generate the funding to go ahead with planned infrastructure projects.
Filed under: construction industry, RICS
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