Wednesday, October 25, 2017

GDP growth at 0.4% while construction sector tips into recession

Responding to today's GDP figures, which showed the economy grew by 0.4% but the construction sector shrank for the second quarter in a row, Liberal Democrat Leader Vince Cable said:

"“This is a welcome, if modest, improvement in economic growth.

“But the economy is still growing at historically low levels, while people’s living standards continue to be squeezed by high inflation.

“It is also worrying to see the construction sector, which tends to act as an economic bellweather, tipping into recession.

“The Chancellor must use next month’s budget to boost the economy by investing in housing and infrastructure.

“This is especially important if the Bank of England does take its foot off the accelerator and announce an interest rates rise.”
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