UK construction output rises more than expected in April, ONS reveals
UK construction output rose more than expected in April compared to a month ago, official data showed on Friday.
Output rose 2.5% month-on-month in April, beating analysts’ estimates for a 1.2% increase and following a 3.6% decline in March, the Office for National Statistics revealed.
However, construction output fell on an annualised basis by 3.7% in April - although it was better than the 4.9% drop expected and the previous month’s 4.5% slide.
The ONS said new orders for the construction industry in the first three months of 2016 were expected to have fallen 1.2% compared to that previous quarter and the same period a year ago.
The second estimate of UK gross domestic product for the first quarter, released in May, estimated construction output fell 1.1% during the period.