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Tue October 27 2020

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Construction output jumps 6.6% in second quarter

23 Jul 10 Construction output grew by 6.6% between April and June, according to the latest figures from the Office for National Statistics.

Construction output grew by 6.6% between April and June, according to the latest figures from the Office for National Statistics.

The sector enjoyed its fastest growth in a single quarter since 1963, helped, as the industry bounced back from the harsh winter conditions earlier in the year.

The growth contributed to an overall expansion in the UK economy of 1.1% - almost double the 0.6% figure many economists had predicted.

However, the sharp increase may soon go into reverse as the impact of Chancellor George Osborne's spending cuts kicks in.

There are also likely to be calls for hikes in interest rates from the current record low of 0.5%.

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