Private Housebuilding Suffers Record Output Fall In March

Gross domestic product fell by 5.8% in March alone as the country saw its biggest quarterly fall since the depths of the financial crisis in 2008 as the covid-19 slump begins. The figures reveal that the 2.0% fall in the first quarter of this year was the largest drop since the last quarter of 2008 – when the collapse of Lehman Brothers triggered a worldwide financial collapse. The March drop is the worst since ONS records began in 1997. Output fell by 6.4% month-on-month despite the lockdown only being announced in the last week. Read more on Housing Today.

https://www.housingtoday.co.uk/private-housebuilding-suffers-record-output-fall-in-march/5105980.article