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UK construction output down on month in August

by ChemOrbis Editorial Team -
  • 14/10/2016 (14:59)
According to data compiled by the UK’s Office for National Statistics (ONS), the country’s construction output fell 1.5% on the month in August after increasing 0.5% in July. Initial expectations had called for an increase of 0.2% for August in a survey by Reuters.

On a yearly basis, construction output rose 0.2% in August compared to the same month of last year, missing Reuters’ economists’ expectations of a 1.5% gain.

ONS also reported that the construction output dropped 1.3% in the three months to August compared to the three months to May.

A statistician with the Office for National Statistics, Kate Davies said, "As the fall this month is led by infrastructure, it seems unlikely that post-referendum uncertainties are having an impact."

The decline in output was attributed to the country’s lower infrastructure spending.
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