Construction drags down first quarter GDP

By Jordan Marshall2018-04-27T13:23:00

Construction industry has been the largest drain on the UK economy this year

Cranes

Declining construction activity dragged down the UK’s economy at the start of 2018, according to the ONS estimates for GDP in the first quarter of 2018.

According to the latest data the economy grew by just 0.1% in the first three months of the year, the slowest since the fourth quarter of 2012, with construction being the largest downward pull on GDP.

Construction output is estimated to have fallen by 3.3% over the period, with agriculture also having a negative impact on GDP, falling by 1.4%.

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