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UK construction activity growth hits all-time high in November

UK construction activity growth hits all-time high in November

Mubasher: The UK construction sector output reached an all-time high in November 2018, expanding over the three-month period ended the month, data released on Friday showed.

Construction output went up 0.6% month-on-month last November, leading the total value of construction activity to reach beyond GBP 14 billion ($17.87 billion) for the first time since the beginning of monthly records in 2010, the Office for National Statistics (ONS) said.

This came mainly on the back of resilient growth of private new housing at 3.1%, private commercial new work at 2.3% and public housing repair and maintenance at 5.8%.

UK construction activity saw a growth of 2.1% in the period between September and November, as new work climbed 3.4%, while a slight decline of 0.4% marginally offset the sector’s output growth.

By 5:21 am GMT, the GBP/USD pair rose 0.16% to $1.2767, while the EUR/GBP pair went up 0.09% to GBP 0.9026.