Defying Brexit: Output grows in 2016 despite EU referendum

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Defying Brexit: Output grows in 2016 despite EU referendum

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The Office for National Statistics’s full-year data for 2016 shows that industry output grew last year, reaching £136.38bn.

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However, Construction Products Association Economics Director Noble Francis warns that the impact of the referendum will be more long term, particularly on commercial developments: “[Uncertainty] appears to be affecting areas that require high upfront investment for a long-term rate of return such as commercial offices and industrial factories,” he says. “Both have seen new contract awards fall and this is likely to feed through into falls in sector activity from the second half of this year.”

Source: CPA

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Defying Brexit: Output grows in 2016 despite EU referendum

Defying Brexit: Output grows in 2016 despite EU referendum

Defying Brexit: Output grows in 2016 despite EU referendum

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