When the figures first came out the standard line was that the
building numbers in the UK would be revised upwards, so, you know, NOT TO FEAR. AUSTERITY IS WORKING.
Building output plunged 4.8 percent in the three months through March, the Office for National Statistics said today. That compares with a 3 percent drop in the first estimate of gross domestic product on April 25, which showed the economy contracted 0.2 percent. The revision on its own would shave 0.1 percentage points off GDP, the statistics office said.
