Construction output falls in Q1 2016

Output in the construction industry during the first three months of 2016 was estimated to have fallen 1.1% compared with Quarter 4 of last year.

The latest figures from the Office for National Statistics suggested downward pressure on the quarter came from all new work which decreased by 0.6% and repair and maintenance which decreased by 1.9%.

Between Q1 2015 and Q1 1 2016, output was estimated to have dropped 1.9%.

In March 2016, output in the construction industry was estimated to have decreased by 3.6% compared with February 2016. All new work and repair and maintenance both reported falls of 3.6%.

The preliminary estimate of gross domestic product for Q1 2016 published on 27 April 2016 contained a forecast for construction output of a fall of 0.9%.

This estimate has been revised downwards by 0.2% and is now estimated to have decreased by 1.1%.

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About Ryan Fowler 614 Articles
Ryan Fowler is the editor of Specialist Finance Introducer