UK construction activity makes modest recovery after four-month lull
(ShareCast News) - Thanks to a modest revival in infrastructure and private housebuilding, UK construction activity showed more signs of life last month after four consecutive months of negative growth for the industry.
Construction output in August rose 0.6% on the previous month, when the consensus forecast had been for a flat month. July's growth was revised to show a 1% decrease.
On a year-on-year basis, construction output surged 3.5% in August versus a consensus estimate of 0.2% and after a previus month that was revised to show a fall of 2.7%.
The Office for National Statistics, which provided all figures on a seasonally adjusted basis, noted that construction continued to decline in the three months to August compared to the previous three-month period, with a 0.8% decline due to falls in private commercial work in previous months.
However, the slight pick-up in August was thanks to boosts from infrastructure and private house building.
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