UK Construction Output Rises In Q3

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UK's construction output increased 2% sequentially in the third quarter, an upward revision from a 1.1% decline reported in the third quarter GDP data released last week, the Office for National Statistics said Friday. On an annual basis, the construction production dropped 11% in the third quarter.

The total volume of new work decreased 12% year-on-year in the third quarter, and declined 4% compared to the preceding quarter. New private housing work was 30% lower over the previous year and was down 12% on previous quarter. New work in the public housing sector in the twelve months to the third quarter was down 5% on an annual basis, but was up 14% on the previous quarter.

The total volume of repair and maintenance work fell by 8% year-on-year, while grew 10% sequentially.

UK's construction output increased 2% sequentially in the third quarter, an upward revision from a 1.1% decline reported in the third quarter GDP data released last week, the Office for National Statistics said Friday. On an annual basis, the construction production dropped 11% in the third quarter. (Market News Provided by RTTNews)