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UK Construction Sector Has Worst Quarter in 4 Years

2024-07-13OANDAOANDA
The construction sector suffered its worst quarter for four years following the vote to leave the EU and, in a blow to government hopes for better housing supply, homebuilding stalled. Official figures showed output in the construction sector, which accounts for 6% of the UK economy, slipped by 1.1% in the July to September quarter […]

The construction sector suffered its worst quarter for four years following the vote to leave the EU and, in a blow to government hopes for better housing supply, homebuilding stalled.

Official figures showed output in the construction sector, which accounts for 6% of the UK economy, slipped by 1.1% in the July to September quarter from the previous quarter. That echoed reports from builders after the Brexit vote that economic uncertainty was hitting their order books.

But the figures from the Office for National Statistics on Friday were slightly better than its earlier estimate that construction output had fallen 1.4% in the quarter.

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