Construction

UK construction sector slips into recession for first time in four years

The UK’s construction industry has slipped back into recession for the first time in four years, according to official figures that show the sector was struggling even before the vote to leave the EU.

Experts say the drop in business and consumer confidence since the referendum will further dent construction activity in the months ahead. The Office for National Statistics said output dipped 0.7% in the second quarter of 2016, following a drop of 0.3% in the previous three months. It is the first time there have been two consecutive quarters of falling output – a technical recession – since 2012, when the eurozone debt crisis shook confidence across Europe.

Read more: https://www.theguardian.com/business/2016/aug/12/uk-construction-sector-slips-into-recession-for-first-time-in-four-years

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