-UK May Construction -2.1% m/m; -1.9% y/y
London (MNI) - The UK construction sector contracted in May,
courtesy of a downturn in private housing activity, raising prospects of
a decline in construction for the second consecutive quarter.
Construction output retreated by 2.1% between April and May, worse
than the MNI median forecast of a 1.3% decline, after a slight upward
revision to April data.
On an annual basis, the sector contracted by 1.9%, outperforming
the MNI median forecast of a 3.3% retreat.
Output in the month of April was revised to show a 2.8% gain and a
0.6% annual fall, stronger than the originally-reported 2.5% monthly
gain and 3.7% year-on-year fall.