UK Construction output declined in October

FXStreet (Mumbai) - The data released by the UK Office for National Statistics (ONS) showed the construction output contracted by 2.2% in October compared with September. Year-on-year the output showed a growth for the 17th consecutive month by increasing 0.7%.

The details showed both new work and repair and maintenance decreased, by 1.7% and 3.1% respectively. In the new work category, only public other new work saw an increase; all repair and maintenance work categories experienced a fall in work in October.

The construction growth of 0.8% in the second estimate of Q3 GDP has been revised higher to to 1.6%. This provides an upward revision of 0.1% to GDP.