The GDP report released this morning shows that the UK economy has grown by 0.2% overall. The longest double dip recession since the 1940s has come to an end. Despite this, the construction sector has shrunk by a disappointing 2.5%.
In response to the figures, Jonathan Hook, construction leader at PwC, said:
"The decline in construction output of 2.5% is disappointing but not unexpected. The industry is feeling the impact of cuts to the Government's capital programme. Government has got the message about stimulating projects and the potential impact on economic growth and there are also increasingly positive signs from the private sector. In my view it will probably be a year before the sector starts to see growth again."