–UK Q2 Construction Output To Have No Impact On Initial GDP Estimate
LONDON (MNI) – National Statistics said construction output in
the second quarter rose by just 0.5% on the quarter, correcting
its earlier error when it announced it had risen by 2.3% on the quarter.
The revised data mean the latest quarterly estimate is back in
line with the original estimate of 0.5% used in National Statistics
first take on Q1 GDP, and will therefore have no impact on the second
estimate of Q2 GDP.
The original Q2 data published Friday showed construction output
would have added 0.1 percentage points to Q2 growth in comparison to the
estimate originally used by National Statistics.
The estimate in the initial estimate of Q2 construction output in
the GDP estimate was up just 0.5%.
National Statistics said it had simply got its maths wrong.
“There was an arithmetical error in the final stages of preparation
of the Output in Construction estimates,” it said.
–London newsroom 4420 7862 7491 email: drobinson@marketnews.com
[TOPICS: M$BDS$,M$B$$$,MABDS$]
