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- Output from the UK construction sector fell unexpectedly for a third consecutive month in September, according to official figures released yesterday, though industry bosses remain upbeat.
- On an annual measure, output dropped 1.6 per cent in September, the biggest decline for more than two years.
- The data from the Office for National Statistics (ONS) showed that construction output dipped 0.2 per cent in September, after a sharp 3.4 per cent decline in August and against expectations for a modest rise.
- For the third quarter as a whole, new housing construction slumped 4.3 per cent, its biggest decline in just over three years, reflecting a drop in housing starts in the previous quarter around the time of May’s national election.
- On Thursday, the Bank of England’s chief economist Andy Haldane described the UK’s housing market as “broken”, highlighting the long-term lack of construction of new homes particularly by local councils.