UK construction sees sharpest fall in 3 years

British construction output fell in a rainy August at its sharpest rate since late 2012, adding to signs that overall UK economic growth slowed in the third quarter, official data showed yesterday.

The Office for National Statistics (ONS) also said the deficit in the country’s trade in goods narrowed in August but was larger than expected and it was also set to weigh on growth.

Britain’s economy has outpaced many other advanced nations for much of the last two years but is widely expected to have slowed in recent months along with the global economy. The Bank of England said on Thursday it was keeping interest rates at a record low of 0.5%.