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Construction sector growth in surprise jump
The UK construction industry grew a faster-than-expected 2.3 per cent in the second quarter of the year compared with the previous three months, figures show.
The new data from the Office for National Statistics (ONS) marks a rebound from a slump seen by the industry over the previous six months.
It is also much faster than the 0.5 per cent figure used in the ONS’ recent initial calculation of overall UK economic growth, which could now be revised up.
House-building jumped four per cent in the period.
“Given today’s figures for construction output in [the second quarter], GDP growth in [the second quarter] would be revised up by 0.1 percentage points,” said the ONS.
The first estimate of UK growth for the period by the ONS was 0.2 per cent.