Construction output in the U.K. declined 3.9 percent quarter-on-quarter in the second quarter, the latest figures from the Office for National Statistics showed Friday.
The decline was smaller than the 5.2 percent fall estimated in the preliminary report on the second quarter gross domestic product.
According to the statistical office, the estimated impact on the second quarter GDP from this release of construction output data is an upwards revision of 0.1 percentage points.
The volume of new work fell 4.6 percent on a quarterly basis. The ONS said the movement of the late May bank holiday to June, the additional bank holiday for the Queen's Diamond Jubilee and the unseasonal weather were likely contributing factors to the decline in construction output.
Data released earlier this week showed industrial production falling 0.9 percent sequentially in the second quarter. This suggested an upward revision to the GDP of approximately 0.07 percentage points.
According to preliminary estimates, the GDP contracted 0.7 percent in the second quarter.
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
Economic News