ONS forced to admit blunders over wrong construction order figures

An apology was forced to be made by Government number crunchers after it was made clear that there were significant errors in the construction order figures.

The construction orders were officially stated to have risen by 0.2% in the last 3 months in comparison with the first quarter of the year, but in actual fact there was an 8.5% drop in new orders, something ONS chiefs have only just uncovered.

The amended figures now show that new construction orders are at the lowest they have been since third quarter of 1980. Among other errors amended was the 11% rise in year-on-year quarterly comparisons, which is actually a 0.3% contraction. Despite the amendments the ONS have said that there is no affect on the UK’s headline GDP figures.

Full story: http://www.constructionenquirer.com/2012/09/28/bungling-ons-admits-error-in-construction-orders/


Share this

Become a Streetwise Buddy

Construction’s a tough place to do business right now, and Specialist Contractors need all the help you can get. That’s why you will find our resources and expertise are invaluable, whatever the size of your business and whatever your specialisation. We’re here to help you solve all your business problems, including the crucially important contractual ones, such as getting paid.

What Our Buddies Say ...

  • /

streetwisesubbie

StreetwiseSubbie.com Ltd
Shanakiel
17 Ilkeston Road
Heanor
Derbyshire
DE75 7DR

Helpline: +44 (0)1773 712116
Email: info@streetwisesubbie.com

Free
Consultation