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Billie, Founder with academic training in Fundamental Mathematics and professional experience in Large Multinationals in the Information Technology sector, having held positions in high-level management positions, maintains that it is time to reduce Unproductive Public Expenditure and help the Private Sector in everything that is possible.
(RTTNews) - U.K construction output declined 2.5% quarter-on-quarter in the final three months of last year compared to a revised 3.8% growth in the third quarter, the Office for the National Statistics said Friday.
The previous estimate for the third quarter showed a 4% increase in output. According to data published along with the preliminary GDP figures for the fourth quarter, construction output decreased 3.3% on a quarterly basis.
Though the latest figure is better than the initial estimate of 3.3% decline, the resulting upward revision to GDP growth would amount to less than 0.1 percentage point, ONS said.
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U.K. Construction Output Drops 2.5% In Q4
(RTTNews) - U.K construction output declined 2.5% quarter-on-quarter in the final three months of last year compared to a revised 3.8% growth in the third quarter, the Office for the National Statistics said Friday.
The previous estimate for the third quarter showed a 4% increase in output. According to data published along with the preliminary GDP figures for the fourth quarter, construction output decreased 3.3% on a quarterly basis.
Though the latest figure is better than the initial estimate of 3.3% decline, the resulting upward revision to GDP growth would amount to less than 0.1 percentage point, ONS said.
The negative growth in the fourth quarter can be partly attributed to the impact of the poor weather in December, the statistical office said.
The preliminary GDP estimate showed that the U.K economy contracted 0.5% sequentially during the fourth quarter last year. ONS will release the revised GDP data on February 25.
Construction output rose 8% year-on-year during the quarter ended December. At the same time, total new work fell 2% from the third quarter while repair and maintenance dropped 3.7%.
All new work increased 14.5% year-on-year and repair and maintenance dropped 3.3%. The volume of new private housing work was 3% lower compared with the previous quarter and was 18% higher than fourth quarter 2009.
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