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UK Construction Output decreased by 0.8% in April

Friday, Jun 12 2015
In April 2015, output in the construction industry decreased by 0.8% compared with March 2015, after increasing by 1.4% in March. Analysts were anticipating 0.1% increase.Repair and maintenance decreased by 4.8% while all new work increased by 1.6%.Within the repair and maintenance (R&M) category, all work types reported decreases, notably non-housing R&M which fell by 7.2% and public housing R&M which fell by 6.2%. Within all new work, new housing was the main contribution to the increase of 1.6% in April 2015 compared with March 2015, increasing by 5.4% with both public and private housing reporting increases.
 
Compared with April 2014, output in the construction industry increased by 1.5%. This is the 23rd consecutive month of year-on-year growth, however, this is the weakest year-on-year growth since November 2013. New orders for the construction industry in quarter 1 were estimated to have increased by 0.4% compared with quarter 4 2014 and by 8.0% compared with quarter 1 2014. There were increases in infrastructure (18.6%), private industrial (6.1%), new housing (1.2%) and all other work (0.1%) in quarter 1 2015.
 
Data did not have any major impact, with Sterling currently being traded at 1.55 handle. Pair is likely to find support around 1.5430 area and resistance above 1.5550 level. Later today, in the US session, PPI and Consumer Sentiment data is scheduled for a release.
More in this category: « Is it time to sell Aussie? Eurozone Industrial Production missed market expectations »

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