Construction output grew by 0.9 per cent in the last three months of the year when compared to the previous three, according to the latest data from the Office for National Statistics (ONS), well above the 0.3 per cent preliminary estimate included in the latest GDP figures.

The small rise in the total volume of construction output halts the decline first seen in the third quarter of 2011, the statistics office explained.

Nevertheless, when compared with a year ago output was still down 9.3%.

Of possible interest, ONS pointed out that the non-seasonally adjusted data shows that this time around output fell by more than was seen during that month in the last three years. That may be due to companies in the sector bring forward work.

Having said that, construction companies' confidence in the outlook for business activity over the next 12 months rose in January from the near-four year low seen in November, according to the latest monthly survey released by Markit last Monday.

Even so, the degree of optimism was still weak by the historical standards of that survey.

Lastly, ONS indicated that by themselves today's data do not imply an upwards revision to its preliminary GDP estimate for quarter four.

AB

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