Construction boost Builders bounce back
Growth is back for Britain’s builders as the embattled sector benefited from a resurgence in orders in August.
Factories also beat growth expectations, raising hopes that the economic slowdown could be past its worst point.
The National Institute for Economic and Social Research estimates the economy grew by 0.4pc in the third quarter of the year, up from 0.3pc in the second quarter.
Construction had appeared to be on the brink of a recession, but a 0.6pc rise in monthly production reversed some of the 1pc contraction seen in July.
The ONS said that the sector grew by 3.5pc on the year. New housing and infrastructure orders both boosted the sector.
The three month on three month figure is still in negative territory, however.
“With a lack of clarity from the Government on the Brexit deal, many UK companies and investors are biding their time on committing to new projects, which means confidence remains fragile,” said Michael Thirkettle, the chief executive of construction consultancy McBains.
Elsewhere, the output of the manufacturing sector grew by 0.4pc during August.