Construction output slumps in January

UK CONSTRUCTION output fell 7.9 per cent year on year in January, data from the Office for National Statistics showed this morning.

Month on month in January, construction output fell 6.3 per cent, primarily driven by a 7.9 per cent decrease in new work.

Over the three months to January, the construction sector saw even bigger falls, with output 10.2 per cent lower at £6.7bn.

Construction makes up less than seven per cent of the UK economy, but weak output was the main drag on growth last year.