Construction output in U.K. falls at the slower pace in January

British construction sector output declined for the thirteenth successive month in January at a notably slower rate than the month before, the Office for National Statistics reported on Friday. On an annual basis, the construction production dropped 7.9% in January following a 14.5% slip the previous month, while on a monthly basis it decreased 6.3% in January after it contracted by 16.3% in December.