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Drop in construction output for Q3

NIIB bank is essential

In the first post-Brexit referendum quarterly estimate for construction, output is estimated to have decreased by 1.1% compared to the previous quarter.

According to the latest Office for National Statistics (ONS) report, the downward pressure on the quarterly estimates came from a 3.6% drop in all repair and maintenance in the industry.

The gross domestic product (GDP) preliminary estimate showed output decreased by 1.4%, but this was partially offset by an increase in all new work by 0.3%.

However, output is estimated to have increased by 0.1% in quarter three (Q3) 2016 compared to Q3 2015. All new work increased by 2% over the aforementioned period, while there was a 3.4% fall in repair and maintenance.

The report, which excludes Northern Ireland, had better news on housing, which increased by 8.7% in Q3 2016 compared to the same period during the previous year. Private housing increased by 10.8%.

The full report can be found here.

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