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News - 15 October 2012

UK construction sector contracted in August


Construction activity was down in August according to figures that will be part of the Gross Domestic Product (GDP) report due out on 25th October.

According to official figures from the Office for National Statistics (ONS), August was down 11.6% from the same month in 2011 and down 0.9% from July's level, and that new work had declined by 15.6% compared with August 2011.

Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“It was hoped that construction output could eke out some growth in the third quarter through the making-up of some of the activity lost in the second quarter to the very wet weather and the extra day public holiday."

A bank holiday that would normally have been in May was postponed until June, with another day added as part of the celebrations of the Diamond Jubilee.

The bank holidays flattered July's figures compared with June's.

If you need any help and advice on Business Plans, Management Accounts, Budgets and Cash Flow Forecasts, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar NOW to discuss how ABDS can help.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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