Construction underpins economic growth in UK

10 November, 2010

The construction industry was the largest contributor to economic growth in the third quarter of 2010, according to data from the Office of National Statistics. Of the 0.8% growth in GDP in this third quarter of 2010, the construction sector accounted for nearly a third, 0.25%. These results mean that the sector has achieved an 11% increase between Q3 2009 and Q3 2010. Liz Peace, chief executive of the British Property Federation, says, ‘These are encouraging results and illustrate just how important a vibrant construction industry is to the overall UK economy.

More detail is contained in the latest figures from Glenigan, which reports the private non-residential construction for the three months to September increased by 7% compared to the same period last year. The retail, hotel and leisure, industrial and office sectors all saw increases in the value of construction projects starting on site.

While retail and hotel construction has been strong for the last six months, industrial and office project starts have returned to growth after a sustained period of decline. James Abraham, economist with Glenigan, comments, ‘The increase reflects improved business confidence and lending conditions. It is, however, from an extremely low base.

BCIA welcomes tougher commercial building energy standards but calls for greater ambition across the wider sector

The Building Controls Industry Association (BCIA) has welcomed the government’s confirmation that privately rented non-domestic buildings over 1,000 square metres in England and Wales will be expected to achieve a minimum EPC B rating by 2031, describing the move as an important step forward in improving the energy performance of the UK’s commercial building stock.

GOLDBECK commits to three-year schools partnership to inspire Cardiff’s future construction talent

GOLDBECK has launched a new long-term education initiative in Cardiff, committing to support three local primary schools as part of a programme designed to introduce young children to enterprise, careers and the wider world of construction.

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