Construction now officially in recession

09:58 24 Oct 2008
By Will Mann

Construction is now officially in recession. Latest GDP figures from the Office of National Statistics show the industry has recorded two consecutive quarters of negative growth (the official definition of a recession).

In Q3, construction shrunk by 0.8%, following a 0.5% fall in Q2.

Overall, the UK economy also shrank in Q3, by 0.5%, having recorded no change in Q2.