The UK’s construction and manufacturing sectors are two which have shown continuous growth in relation to its economic contributions. Even during the recession the sector asserted its dominance and credibility as a high contributor to Britain’s financial conundrum.
As a matter of reinforcement, a new study has found that the construction output increased in June compared to the same month a year ago.
To coincide with new infrastructure projects, A-road improvement schemes and housing projects, the research released by the Office of National Statistics (ONS) shows a 5.4% in overall new work and a 5% increase in repair and maintenance work.
The statistics indicate that construction output saw an increase of 1.2% in June 2014, compared with May 2014 and was 5.3% higher than June 2013.
According to the report:
“The rate of annual construction growth was consistent with the broader performance of the UK economy, the output of which grew by 3.1% in the year to Q2 2014. On the month, both categories within construction – new work and repair & maintenance – performed strongly.
The main drivers of growth were non-housing repairs and maintenance activities, which experienced output growth of 3.8%, and new housing construction which grew by 1.9%.”
Should greater stress be placed on the UK’s manufacturing industry in order to encourage growth? Let us Know in the comments section below.
Article Source: Output in the Construction Industry, June and Q2 2014 | 08 August 2014 Office for National Statistics | 3
