Construction News

22/07/2010

SBF Give Latest GDP Results 'Cautious Welcome'

The Scottish Building Federation has given a cautious welcome to latest GDP figures for Scotland.

Commenting on the release of Gross Domestic Product for Scotland for 2010 Q1, SBF Chief Executive Michael Levack said: “The latest GDP figures for Scotland offer some encouragement that Scotland’s construction sector is beginning to recover. However, the industry’s gross added value to the Scottish economy is still 15% down on where it was at the peak. The recovery is still fragile and the employment outlook for the sector remains very tough.

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“If these first tentative signs are to have any chance of translating into a sustainable recovery, public capital investment budgets will need to be protected and more will need to be done to inject life back into private sector housebuilding and commercial and industrial construction work.”

(GK/KMcA)

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