Construction output falls
Saturday 14 July 2012
An extra day at work failed to help builders in May as construction output sank again, official figures show.
The 6.3 per cent slide came despite a bank holiday being moved to June for the Diamond Jubilee.
Analysts said the industry – which accounts for just under 7 per cent of UK output – is likely to to drag on the economy between April and June, helping condemn the country to a third successive quarter of recession. Steve McGuckin, managing director of Turner & Townsend, the consultants, said: "What began as a dip has become a dive."
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