There have been stronger than expected estimates of construction output in the third quarter, which are likely to lead GDP growth for the period to be revised.
The current estimates of growth in the period have assumed that construction output increased by just 0.8pc. Large upwards revisions to the data now imply that the GDP growth was 0.1 percentage point stronger.
Assuming there are no other changes, the construction sector’s strength will likely see GDP for the third quarter pushed up from 0.7pc to 0.8pc.
This alteration would mean that the economy had not slowed down as drastically as previously thought, cooling off from 0.9pc growth in the second quarter. Continue reading