–April Construction Output -13.6% m/m; -1.3% y/y
LONDON (MNI) – Construction output fell sharply on a non-seasonally
adjusted basis in April although it turned positive on a trend basis for
the first time since November 2010, according to figures released by
National Statistics Friday.
Construction output fell 13.6% on the month in April and was down
1.3% on the year, following an 18.4% rise in March.
As the data are non-seasonally adjusted and the series has a short
history, it is difficult to gauge how strong or weak the figures are for
the time of year.
The April fall this month was, though, larger than the 9.7% fall
seen in the same month a year ago.
Given the strength seen in March, growth in the three months to
April rose to 6.1%, up from -5.5% on the same basis in March, the first
positive outturn since November 2010. Compared with a year earlier
output was down 1.3% in the three months to April.
Most economists expect to see a bounceback in construction output
in Q2 and this still looks likely, albeit possibly slightly weaker than
first thought.
–London bureau: 0044 20 7862 7491; email: drobinson@marketnews.com
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