British construction output slips in fourth quarter

British construction output slipped more than expected in the fourth quarter of 2015, dragged down by reduced infrastructure spending despite housebuilding increasing at the fastest pace since the start of 2014.

Construction output fell 0.4% in the fourth quarter after a 1.7% decline in the third quarter, the UK’s Office for National Statistics said yesterday. While a bigger drop than the estimate used in preliminary fourth quarter GDP figures, the ONS said that even when combined with the downward revision to industrial output figures, earlier this week, they would have only a negligible impact on growth rates.

UK construction output rose 1.5% in December alone, in line with economists’ forecasts after a 1.1% drop in November.