UK growth outlook brighter after new construction data

ONS points to higher GDP reading for first quarter as new figures show building sector performance better than feared

Britain's economy grew faster than previously thought in the opening months of this year, according to estimates from the Office for National Statistics, after it emerged that the construction sector had a better start to 2015 than feared.

The ONS now says construction was not such a big drag on the wider economy in the first quarter of 2015. As a result, economic growth was probably 0.4% rather than the 0.3% previously estimated, barring any changes to estimates for other sectors.