In Quarter 3 (July to Sept) 2016, output in the construction industry was estimated to have decreased by 1.1% compared with Quarter 2 (Apr to June) 2016. The gross domestic product (GDP) preliminary estimate showed construction output decreased by 1.4%. Downward pressure on the quarterly estimates came from all repair and maintenance which decreased by 3.6%, partially offset by an increase in all new work of 0.3%.
Between Quarter 3 2016 and Quarter 3 2015, output was estimated to have increased by 0.1%. All new work increased by 2.0% while there was a fall of 3.4% in repair and maintenance. In September 2016, construction output increased by 0.3% compared with August 2016. All new work increased by 1.2% while there was a fall in repair and maintenance of 1.4%.
Sterling is currently being traded around 1.2650 level. Pair is likely to find support around 1.2580 handle and resistance above 1.27 area.
UK still likely to leave the EU with a negotiated agreement, says Number 10
Sentix Investors Confidence rose to 14.7 in August
German factory orders -4.0% seasonally adjusted on the previous month
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
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