Britain’s construction output unexpectedly fell in November, according to the latest figures from the Office for National Statistics, another sign that growth in the UK economy may be slowing down.
Construction output fell 0.5 percent – its biggest annual drop since May 2013 – a far cry from the 0.5 percent rise widely expected by analysts.
Output dropped 1.1 percent on an annual basis, with the ONS attributing the unexpected fall to bad weather. Falls in construction output are a bad sign for the economy, to which it contributes 6 percent of GDP.
The ONS confirmed that construction output would need to increase by 2.6 percent month-on-month in December to fourht-quarter fall overall.