UK construction misses expectations in September

Construction output in the UK missed expectations in September, figures released on Friday showed.

According to the Office for National Statistics (ONS), construction output declined 0.2% month-on-month in September, rebounding from an upwardly revised 3.4% slump in August but falling short of the 1.5% gain analysts had expected.

On a year-on-year basis, output declined 1.6% compared with an upwardly revised 0.6% fall in the previous month and short of analysts’ forecast for a 0.4% drop.

Meanwhile, in the three months to September, construction output declined 2.2% quarter-on-quarter, unchanged from the preliminary estimate published at the end of October. The third quarter output was 0.1% lower year-on-year, the ONS added, attributing the decline to a drop in new work and repair and maintenance, which fell 2.2% and 2.1% respectively in the period.