RICS Comment On Ons Construction Data

Commenting in the Office for National Statistics’ latest Output in the Construction Industry report, Simon Rubinsohn, RICS Chief Economist, said:

"Data released this morning from the ONS reinforces the message contained in the recent GDP figure that construction output fell more sharply in the first quarter of 2011 than in the final three months of last year. We find this conclusion hard to square with much of the anecdotal evidence, whether it is the results of other sector surveys or responses from RICS members.

"The generally mild weather in the early part of this year should, if nothing else, have helped the construction industry. Looking forward, there are still significant challenges facing the sector, in particular, the dramatic cuts in the Government’s capital spending programme and the continuing difficulties in securing development finance. As a result, even if official numbers are currently understating the resilience of the sector, the recovery in construction output is likely to be particularly sluggish over the course of this year."

 

 

 

 

 ONS, Output in the Construction Industry, Q1 2011http://www.statistics.gov.uk/pdfdir/oec0511.pdf


 

     
   
   
 
  Link to this article:
(Copy and paste the following code to your web page.)
 
 

PIR Sustainable Construction Magazine - More Articles