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11/04/2014

Construction Output Falls By 2.8%

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Official figures have revealed a sharp decline in construction output for the month of February.

According to the Office for National Statistics (ONS), output fell by 2.8%, or £270m, compared to the previous month.

The extreme weather conditions were said to play a role as work on building sites was halted as a result.

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However, when looking at the three months to the end of February 2014, construction output grew by 0.3% compared to the previous quarter. Yet the sector remains 13.2% below its peak.

The ONS said the sharp shrinkage in output is the largest monthly fall since November 2013.

It also meant the annual growth figure was also lower, with construction output rising 2.8% in the year to February, compared with a 5.7% increase in January.

Output measures the amount charged by construction companies to customers for the work they do.

Within the private sector, new housing activity fell by 6.3% in February – the steepest fall for almost a year.

(JP/MH)

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