UK construction output slowdown lessens in October

<p>The UK’s construction slowdown was less pronounced in October, fresh figures reveal.</p>

The slowdown the British construction sector is suffering in terms of output was less pronounced in October.

This is according to fresh data released today (December 14th) by the Office for National Statistics, which revealed the industry's activity slipped by 5.1 per cent over the 31-day period on a year on year basis.

Compared to the previous month, construction output rose by 8.3 per cent.

Output has fallen for 14 of the last 15 months, although October's decline was the least pronounced since February.

This data is the first that will make up the hotly-anticipated fourth-quarter gross domestic product (GDP) figure, which will be released in January.

Construction is a component of GDP, which measures the value of everything produced in the economy.

At 16:30 GMT, the FTSE 100 looked to be closing the week's trading flat, sliding by a marginal 2.5 points to an index value of 5927 points.

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