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Construction Growth Not As Strong As Thought

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http://uk.finance.yahoo.com/news/construction-growth-not-as-strong-as-thought-tele-7bfc396d715c.html?x=0

Construction growth not as strong as thought
Emma "Em" Rowley, 13:16, Friday 12 November 2010
The construction bounceback driving the UKs recovery was not as strong as initially thought, the Office for National Statistics (ONS) has revealed.
The sector looked to have contributed around half of the economys surprisingly robust 1.2pc growth in the second quarter, according to earlier estimates.
But the ONS has now revised the sectors growth in output between April and June down to 6.8pc quarter-on-quarter, rather than the 9.6pc previously thought.

BIG mistake. Mud on their face.

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http://uk.finance.yahoo.com/news/construction-growth-not-as-strong-as-thought-tele-7bfc396d715c.html?x=0

Construction growth not as strong as thought
Emma "Em" Rowley, 13:16, Friday 12 November 2010
The construction bounceback driving the UKs recovery was not as strong as initially thought, the Office for National Statistics (ONS) has revealed.
The sector looked to have contributed around half of the economys surprisingly robust 1.2pc growth in the second quarter, according to earlier estimates.
But the ONS has now revised the sectors growth in output between April and June down to 6.8pc quarter-on-quarter, rather than the 9.6pc previously thought.

BIG mistake. Mud on their face.

Mistake my @rse.

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Big bounce in pwoperty related stocks on this news:

REAL ESTATE OPPORTN( LSE: REO.L / ISIN GB0030364995 )

Last Trade: 3.86 p

Trade Time: 1:48pm

Change: 1.39 (56.19%)

Prev Close: 2.47

As serious as this "mistake" is--it has not had any effect on the indices. The whole economy is a lie and a sham and yet they keep on buying.

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Wasn't the way construction is calculated towards GDP changed late last year or early this year?

I've had a look for a link but cannot find it. The last 2 positive GDP figures were both boosted largely by construction.

Are we already in a double dip then? Last 2 quarters to be revised down to negatives?

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Amazing how little air time this quite shocking news is getting, or not, as the case may be.

http://www.bbc.co.uk/news/business/

Nothing

However, in the radical press:

http://www.telegraph.co.uk/finance/economics/8128709/UK-construction-growth-not-as-strong-as-thought-says-ONS.html

The sector looked to have contributed around half of the economy’s surprisingly robust 1.2pc growth in the second quarter, according to earlier estimates..../
“Given today's revised figures for construction output in Q2, ONS assesses that GDP growth in Q2 would be 0.2 percentage points lower," officials said, attributing the change to revised methodology.
Economists have long been muttering that the ONS data appeared to overstate the strength of construction’s recovery.
Edited by Realistbear

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Economists have long been muttering that the ONS data appeared to overstate the strength of construction's recovery.

That would be the economists who work for banks upset that good GDP figures delayed the free money from a QE open buffet?

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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