Construction orders fall 21 percent year over year

Thu Aug 7, 2008 10:38am BST
 
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LONDON (Reuters) - New orders in the construction sector fell an annual 21 percent in the second quarter as the property market downturn gathered pace, official data showed on Wednesday.

The Office for National Statistics said new orders were also 8 percent lower than in the first quarter, with decreases in all sectors except the public sector.

Private housing suffered the biggest falls, with orders dropping by 10 percent on the quarter and by 35 percent on the year.

Public housing and housing association orders rose 24 percent on the quarter, but were still down 11 percent on a year ago.

(Editing by Victoria Main)

 
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