Train4TradeSkills News: Construction Industry shocks experts with excellent figures
UPDATE: It seems the ONS have got it wrong (again) and has admitted an “arithmetical error” and revealed instead of 2.3% growth, the construction industry instead grew by 0.5%. READ MORE>>
The construction industry’s performance over the last few months has surprised experts by faring much better than expected, according to new figures.
The new statistics from the Office for National Statistics (ONS) revealed that the UK construction industry grew by 2.3% in the second quarter of 2011, much higher than initial reports suggested.
The ONS’ initial figures stated that the construction sector grew by 0.5%, which was initially good news after six months of decline.
But the actual figures were much better, with 2.3% of growth and house building also jumped by 4%, which is a good sign of growth.
The ONS said in a statement:
“Given today’s figures for construction output in [the second quarter], GDP growth in [the second quarter] would be revised up by 0.1 percentage points.”
Here’s a breakdown of the figures:
Infrastructure: up 6.2%
Private housing: up 4.4%
Public housing: up 4.2%
Public non housing: down 0.7%
Private non housing: down 5.5%
Housing RMI: up 1.6%
Non housing RMI: up 1.4%
What do you think about these figures? Let us know and comment below…
- Train4TradeSkills News: New statistics find Construction Industry enjoys positive July (train4tradeskills.wordpress.com)
Posted on August 12, 2011, in construction jobs, construction news, Electrical News, Plumbing News, t4ts, train4tradeskills and tagged Business, construction, Construction and Maintenance, construction industry 2011, construction industry recession, construction jobs, construction news, Economic growth, Office for National Statistics, ONS figures construction, t4ts, Train4trades, train4tradeskills. Bookmark the permalink. 1 Comment.