The UK economy contracted by 0.2% in the third quarter of 2022, according to the Office for National Statistics (ONS).
GDP was down 0.6% in September, however some of that can be attributed to the bank holiday following the death of Queen Elizabeth II.
Manufacturing was down 3.3% with output falling in every sub-sector between July and September.
The last time that happened was in 1980, manufacturing hasn’t risen in output since July 2021.
Construction output rose 0.6% in Q3 2022, a slowdown from the previous quarter. The latest rise was driven by increases in new work orders.
However, construction firms continue to face challenges with anecdotal evidence suggesting the sector will be hampered by continued price pressures from construction inputs and products, labour market shortages and challenges to recruiting new staff.
