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Mon October 26 2020

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Construction returns to recession

26 Apr 10 UK construction is back in recession after the industry experienced two quarters of consecutive negative growth.

UK construction is back in recession after the industry experienced two quarters of consecutive negative growth.

Figures from the Office for National Statistics indicated that construction GDP shrunk by 0.7% in the first quarter of 2010, following a 0.9% drop in the last quarter of 2009.

This means that construction has suffered the 'double-dip' recession that many economists had feared, following a brief period of growth during the middle of 2009.

The growth of GDP across the whole economy slowed to 0.2% in the first quarter of the year, compared to 0.4% in the final quarter of 2009.

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