–Q2 Construction New Orders +0.2% q/q; +11.1% y/y
LONDON (MNI) – Construction new orders posted a small rise on the
second quarter, but were up strongly on the year, according to figures
released by National Statistics Friday.
Construction new orders rose 0.2% on the quarter and were up 11.1%
on the year. The large annual rise was partly due to weakness in Q2 2011
where there were large drops in public housing orders and public other
orders.
The new orders data contrast with data on construction output which
showed output fell 3.9% on the quarter in Q2 and were down 9.5% on the
year.
National Statistics said that the large difference between the
annual rate in orders and output could be due to a number of factors.
First, repair and maintenance had a big effect on output. Second, some
orders were not carried through to output. And third, there was a lag
between orders and output.
–London bureau: 0044 20 7862 7491; email: puglow@marketnews.com
[TOPICS: M$B$$$,MABDS$]
