UK July Construction Bucks Brexit Expectations

According to Reuters, British construction output held steady during the first full month since the EU referendum, bucking the common expectation that it would fall. However, the Bank Of England still expects construction to be one of the hardest hit sectors, despite this initial weathering of the post Brexit storm.

Last month the Bank Of England predicted housing investment would slow sharply in 2016, and fall by almost 5% in 2017. On Wednesday the Bank Of England Governor estimated overall economic growth during the current quarter would be half its second quarter rate of around 0.6%.

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Release Date: 09/09/2016

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UK July Construction Bucks Brexit Expectations