UK construction output falls unexpectedly in March
Construction output fell 0.7% month-over-month in March, slower than the 1.3% decrease in February. In contrast, economists had expected a 0.4% rise for the month.
Both all new work and repair and maintenance reported decreases, falling by 0.1% and 1.8%, respectively.
On a yearly basis, construction output grew at a faster pace of 2.4% in March, following a 0.9% gain a month ago. However, that was below the 2.9% rise expected by economists.
During the first quarter of the year, total construction output increased 0.2% compared with the preceding quarter. ■