Construction on the up.
Article published: 26/08/10, 11:00 PM
A record-breaking performance from the construction sector could result in the UK's fastest economic growth in four years being upgraded even higher.
Earlier this month, the Office for National Statistics (ONS) released revised figures showing construction output of 8.6% in the three months to June, up from an initial estimate of 6.6%.
Economists said this new figure - the strongest since the second quarter of 1963 - could have a positive bearing on the ONS's revised gross domestic product for the same period, released today, raising it to 1.2% from 1.1%.
The 0.1% increase would make the total growth rate for the quarter the strongest in the UK since the same figure was achieved in the first quarter of 2001.
The ONS figures will also detail spending in the economy, which is likely to reflect a better-than-expected quarter for retail sales.
Philip Shaw, economist at Investec, said a revision in either direction would make "little difference" to the conclusion that the economy expanded "very rapidly" over the quarter.
He added: "Recent indicators suggest the third quarter got off to a good start, so although the pace of expansion in the quarter as a whole seems highly unlikely to match that in Q2, it is possible nonetheless that the UK notches up a very respectable pace of output
