UK Construction Sector Has Worst Quarter in 4 Years

The construction sector suffered its worst quarter for four years following the vote to leave the EU and, in a blow to government hopes for better housing supply, homebuilding stalled.

Official figures showed output in the construction sector, which accounts for 6% of the UK economy, slipped by 1.1% in the July to September quarter from the previous quarter. That echoed reports from builders after the Brexit vote that economic uncertainty was hitting their order books.

But the figures from the Office for National Statistics on Friday were slightly better than its earlier estimate that construction output had fallen 1.4% in the quarter.

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza