Weakest UK Construction Output in Four Years

Britain’s construction industry had its weakest performance in four years in the first three months after June’s vote to leave the European Union, official figures showed on Friday.

Construction volumes fell by 1.1 percent in the third quarter as large falls in repairs were only partly offset by small rises in infrastructure and public building work, the Office for National Statistics said.

However, the fall was less severe than an estimated decline of 1.4 percent which was included in a preliminary reading of overall British gross domestic product for the quarter announced last month.

Reuters

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.