UK construction retreats 10% in a year

<p>UK construction output has contracted by ten per cent for the year.</p>

Activity in the UK's construction sector was down by more than ten per cent in the year to July.

This is according to fresh data published by the Office for National Statistics (ONS) today (September 14th), which revealed that in the second quarter of the year, output was also down by ten per cent on the same three-month period one year ago.

However, the ONS said it is important to consider that May's activity was higher than normal due to the fact the bank holiday was moved to June to accommodate the Queen's diamond jubilee celebrations, leaving that month's output unusually downbeat.

Furthermore, the statistics bureau states the Olympic Games does not appear to have had a strong impact on figures, although the build-up to the event – such as rising numbers of visitors – may affect other economic data.

At 14:55 BST, the FTSE 100 was 1.5 per cent higher to an index value of 5909.4 points.

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