News
Construction slips into ‘technical recession’
26/10/2017

Construction output has fallen for two consecutive quarters tilting the industry into a technical recession. The Government’s first stab at GDP figures for the third quarter reveals construction output slipped 0.7% compared with the previous three months. This followed a fall of 0.5% during the second quarter of the year.

The latest data suggests the prolonged period of steady construction growth since 2012 may have peaked in the first quarter of 2017.

The fall in the third quarter was largely down to a provisional 1% fall in construction output in September, which is likely to be revised as more data is returned.