UK construction output in January down sharply

London

BRITISH construction output unexpectedly fell in January at the sharpest monthly rate since late 2013, dragged down by a worsening decline in housebuilding, official data showed on Friday.

Construction output shrank by 2.6 per cent in January - confounding economists' expectations for a rise of 1.2 per cent - after rising by 0.6 per cent in December, the Office for National Statistics (ONS) said. Total new housebuilding dropped by 5 per cent on the month, the steepest fall since February last year.