Details from the November 2015 UK construction output data report 15 January 2016
- Prior +0.2%
- -1.1% vs 0.0% exp y/y. Prior 1.0%
That's the worst annual drop since 2013. The ONS said that bad weather may have caused the slowdown. Funny that, they blamed good weather for the fall in industrial production for the same month 3 days ago. Bonkers
Some good news, new work rose 1.3% in increased infrastructure spending (all those burst rivers needed sorting). However it was countered by a 5.1% fall in repair and maintenance.
Private house building was up 3.1% y/y but public spending was down 21.6%. We need 2.6% growth here next month just to get to flat for Q4
The only thing I'll say is that this report can be volatile at the best of times and a better read can be made from the PMI
UK construction output y/y
