LONDON (MNI) — Non-seasonally adjusted construction output rose
slightly on the month in November but calculations by Maket News suggest
it is likely to impact negatively on GDP in Q4.
Construction output rose 0.2% on the month in November following a
non-seasonally adjusted drop of 1% in October.
As the monthly data are non-seasonally adjusted it makes
interpreting the data difficult. But assuming that the annual rate of
growth remains similar over the next few months and taking into
consideration the usual seasonal adjustment in Q4, these figures suggest
a fall in construction output in Q4 of 3% on a seasonally adjusted
basis.
While there are still two months of the quarter to go initial signs
point to a quarterly fall which could knock 0.2 percentage point off
GDP.
–London bureau: 0044 20 7862 7491; email: drobinson@marketnews.com
[TOPICS: MT$$$$,M$B$$$,MABDS$]
