UK DATA: Apr NSA Construction Output Down Sharply
Non-seasonally adjusted construction output fell sharply in April
following a large rise in March. The m/m drop in volumes was 13.2% and
output was down 8.5% on the year, a worsening from March’s 7.7% fall.
Given the data are non-seasonally adjusted it is difficult to make a
hard assessment of their potential impact on GDP. April usually sees a
drop in volumes but these data seem to point to a weak start to the