Key Statistics: 3rd April 2012

Glenigan's weekly roundup of keys statistics for the UK construction industry and the wider economy.

UK Economy

• The OECD has predicted that the UK economy will shrink over the first quarter of 2012, meaning the country will be back in recession. 
• UK labour productivity fell by 0.7% in the fourth quarter of 2011 on an output per hour basis, according to the ONS. UK unit labour costs increased by 1.2% in Q4.
• The volume of household expenditure on goods and services (seasonally adjusted) grew by 0.4% in Q4 2011, the first positive growth since Q2 2010.
• The Markit/CIPS Purchasing Managers' Index for manufacturing rose to 52.1 in March from 51.5 in February (a reading above 50 implies growth), the fastest growth for ten months.