LONDON (MNI) — Construction output growth was revised higher in
the second quarter, although the upward revision alone would not be
enough to push up GDP growth over the same period.
Figures released by National Statistics Friday showed that
seasonally adjusted construction output increased by 1.1% on the quarter
in Q2, compared with the originally estimated 0.5% increase.
There was also an upward revision to the first quarter figures from
a fall of 3% to a fall of 2.7%.
National Statistics said that the revision to construction in Q2
implied an addition to GDP growth of less than 0.5 percentage point
which would economic growth at just 0.2% in Q2.
Monthly data revealed that construction output fell 2.6% on the
month in July on a non-seasonally adjusted basis. Last year, July output
was down 1.3%.
The monthly data are non-seasonally adjusted and the series only
goes back to the start of 2010 which makes interpreting the data
problematic.
–London bureau: 0044 20 7862 7491; email: drobinson@marketnews.com
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