- Prior 0.0% Revised to +1.9%
- -0.3% vs +2.9% exp y/y. Prior 2.6% revised to 4.3%
A very mixed bag in construction. Big revisions on last month offset large falls this month. Not sure whether there’s some new calculation skews going on here.
Update: Just reading the ONS release and the July revision has had a big impact on the August monthly number.
All new work fell 4.8% with the fall in private housing being the leader in both falls in ‘new work’ and ‘all work’. The year on year fall was the first negative since May 2013.
A bit of a screwy report but construction was the first sector to really take off in the recovery last year and given the slowdown we’re in it’s no surprise to see it fall back. There may also be some hesitation in construction over the new mortgage rules in the housing component.
UK construction output 10 10 2014
