Economic recovery slows as construction output is down
BRITAIN'S economic recovery slowed in November as industrial production and construction faltered.
Construction output has been disappointing and is slowing economic recovery
Industrial output fell by 0.1 per cent from October, mainly due to a 5 per cent drop in oil and gas extraction because of maintenance work at North Sea oil fields, official figures showed.
Construction was down 2 per cent.
Economists said the data pointed to UK economic growth slowing to 0.5 per cent in the fourth quarter, down from 0.7 per cent over the previous three months.
Construction output was undeniably disappointing in November as in October
Economist Howard Archer, of IHS Global Insight, said: "Construction output was undeniably disappointing in November as in October."
Markit chief economist Chris Williamson added: "Not only is the rate of growth slowing but the UK economy is also once again showing an unhealthy dependence on domestic consumers to drive growth in 2015.
"The sought–after rebalancing of the economy from domestic consumption to export–led growth remains a hope rather than a reality."