“The latest construction output figures are yet more evidence that the green shoots of recovery are withering; particularly worrying is the near 25% fall in private industrial new work. It’s clear that sustainable recovery needs to be driven by private sector investment and this big drop shows the lack of confidence across the industry. Without a foreseeable uptick in the coming quarter the impact on the construction market is expected to be sharp and prolonged. However, there is some small comfort in the 3.3% lift in private new housing – new house starts are probably the Government’s quickest way of injecting short-term growth.”
For further information please contact:
Arti Mohan, Corporate Communications
Tel: 020 7694 8735
Mobile: 07768 858 085
KPMG Press Office: 020 7694 8773
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with nearly 11,000 partners and staff. The UK firm recorded a turnover of £1.6 billion in the year ended September 2010. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 150 countries and have more than 138,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.