Construction sector returns to modest growth

  • THE┬áconstruction sector returned to modest growth in June after a slowdown over the previous two months, official figures show.
  • Construction output in June was 2.6 per cent higher year-on-year, below economists’ forecasts of a 3.3 per cent rise but still the fastest growth since March.
  • The ONS added that the second quarter construction figure is higher than the flat output estimate it used to calculate gross domestic product (GDP) for the quarter last month.
  • But it added this small upward revision to construction did not point to any material revision to the ONS preliminary estimate of 0.7 per cent GDP growth in the second quarter of this year.
  • The ONS said: “Despite this increase the data for June 2015 continues a run of relatively weak monthly growth.”