UK DATA: Q2 Construction Output -3.9% q/q; -9.5% y/y
-Construction data suggest upward revision to Q2 GDP q/q of 0.1pp
————————————————————————
Overall growth in the UK economy could be revised higher in the
second quarter as construction output fell less sharply than expected,
figures from National Statistics showed Friday. Along with the
industrial production data released earlier this week, Q2 GDP growth
could be revised higher by 0.2 percentage point in total which would see
GDP down 0.5% on the quarter — more in line with the Bank of England’s
estimate published in the Inflation Report. Construction output fell a
seasonally adjusted 3.9% on the quarter in Q2 and was down 9.5% on
levels a year earlier. This compared with an estimated fall of 5.2% in
the preliminary GDP release last month. The fall in output were
widespread with 8 out of 9 sectors reporting declines.
Featured Videos