Friday, December 04, 2009
Third quarter GDP set for another upward revision
Posted by David Smith at 10:30 AM
Category: Thoughts and responses

Outside the sector, not many people take that much notice of the quarterly construction figures. The latest, however, have added significance. The Office for National Statistics estimates that construction output rose by 2% in the third quarter, rather than the 1.1% fall it assumed in the third quarter gross domestic product figures. Other things being equal, that change will add 0.2% to the growth in GDP between the second and third quarters, cutting the quarterly decline from 0.3% to 0.1%. It may not be that long before we discover that the economy grew in the third quarter, as the surveys suggested. The construction figures are here.