In a separate release the Office for National Statistics (ONS) said construction output stabilised in July, defying expectations among economists for another drop. Construction companies also enjoyed the biggest pick-up in orders for three years in the three months leading up to the referendum. But Archer also noted the ONS’s warning not to read too much into one month’s data. “While we would caution against reading too much into any one month’s figures at the best of times, this is particularly true of trade and construction figures. The ONS construction figures showed output was flat in July, better than economists’ expectations for a 0.8% drop.

Source: The Guardian September 09, 2016 11:57 UTC