UK’s construction output declines 0.8% in April

Market news

12 June 2015

UK’s construction output declines 0.8% in April

The Office for National Statistics (ONS) released its construction output data for the U.K. on Friday. Construction output in the U.K. declined 0.8% in April, after a 1.4% rise in March.

The decline was driven by a drop in repair and maintenance, which plunged 4.8% in April.

New work increased 1.6% in April.

On a yearly basis, construction output climbed 1.6% in April.

The ONS revised its methodology for measuring construction. For the first quarter as a whole, construction output was down 0.2%.

According to the ONS, the revision could have an impact the U.K. GDP growth. The economy could have expanded at 0.4% in the first quarter rather than 0.3%.

European stock markets mid session: stocks traded lower on the uncertainty over the Greek debt talks and on the weaker-than-expected industrial production data from the Eurozone

Eurozone’s industrial production rises 0.1% in April

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