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European Economic News

UK Construction Output Contracts Less Than Expected

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

The volume of construction output in the UK declined less than expected in April, the latest figures from the Office for National Statistics showed Friday.

The non-seasonally adjusted total volume of construction output in April was 1.1 percent lower than in April 2012. This was forecast to fall 4.1 percent.

Output fell 6.5 percent between March and April. In February-April, output decreased 4.7 percent compared with the same three months a year earlier.

These estimates for the construction industry are the second of the main components for the output approach to measuring the gross domestic product to be published for April 2013, ONS said.

The most recent estimate of the GDP indicated that the UK economy grew 0.3 percent in the first quarter of 2013 following a contraction of 0.3 percent in the fourth quarter of 2012. In contrast with this, construction output fell 2.4 percent.

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