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Construction helps drive UK economic growth

GDP figures published by ONS have shown construction grew 2.5 per cent in the third quarter of 2013 as the wider UK economy rose 0.8 per cent.

Commenting on these figures, Construction Products Association economics director Noble Francis said: “The GDP figures show that construction was a key contributor to UK economic growth in Q3 for a second consecutive quarter. 

“This adds to increasing optimism that the industry is recovering from its worst recession in 35 years.

“The construction sector rose 2.5 per cent in Q3 primarily due to private house building, boosted by Help to Buy, and infrastructure, driven by work on Crossrail, which is Europe’s largest construction project.

“Although output in the sector still remains 12.5 per cent lower than it was five years ago, today’s GDP figures point towards recovery for the construction sector and the wider economy.”

Forum of Private Business CEO Phil Orford said: “A steady recovery continues with a second consecutive quarter of good growth. Even growth across sectors indicates a stable recovery and we hope to see those figures continue to rise over the next four quarters. 

“Businesses, like consumers, are facing a lot of upward cost pressures at the moment.

“When looking at how to dampen energy price rises and other cost pressures for households, the government shouldn’t ignore that businesses are facing similar challenges.

“Political efforts to positively impact on the cost of living should not be funded through increasing the costs of doing business.”

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