New UK construction orders fell by 10% q/q in 1Q13

According to the UK Office for National Statistics, the total volume of new construction orders in 1Q13 (based on 2005 prices) fell by 10% q/q and by 0.2% y/y, as the industry felt the effects of poor weather conditions and low underlying demand.

While new orders in the majority of sectors in construction experienced q/q growth, infrastructure dropped £1.6 billion, 49.8% lower than in 4Q12. New housing was up by 29.5% y/y and 0.2% q/q, meaning that it is now at its highest level since the first quarter of 2008.

Although UK GDP has risen by 2.6% since 1Q08, new construction orders have declined by 33.9%. The only sector to see positive growth in this period is public sector and housing associations, which has risen by 11.1%. Meanwhile, private commercial new work has fallen by 55.2%.

Adapted from statistical bulletin by Louise Fordham.

Read the article online at: https://www.worldcement.com/europe-cis/07062013/uk_construction_activity_1q13_1008/