Products association welcomes 0.25% interest rate cut

The Construction Products Association (CPA) has welcomed the 0.25% reduction in interest rates announced today (Thursday).   

External affairs director, Jean Emblin, said:  "According to the Association's latest Market Trends report there has been a slowing in infrastructure output during the first quarter of 2003. 

"This cut will, therefore, provide an added boost for construction product manufacturers, although it must be said that the sector will only see real benefit if the government's expenditure plans stay on track.

"This reduction will also kick-start demand within the wider manufacturing industry and halt the decline in output that has existed since the beginning of 2001," she said.

"Industry has been calling for a further cut in interest rates for some time now, and it is pleasing to know that our voice is finally being heard."