Construction output in the UK declined by 3.1% y/y in January 2015

According to the Office for National Statistics (ONS), new orders in the UK construction industry fell by 2.9% q/q in 4Q14. When compared with 4Q13, new orders were down 2.3%. The decline in new work occurred in all areas apart from private industrial, with the biggest decreases occurring in public new housing (-13.1%), private commercial (-8.5%) and private new housing (-5.7%).

The ONS has also released estimates for January 2015. Construction output was 3.1% lower than in January 2014, the first y/y decline since May 2013.

When compared with December 2014, output fell by 2.6%. New work decreased by 4.2%, with declines in private commercial (-6.6%), infrastructure (-2.7%), public housing (-18.4%) and private housing (1.3%). The only sector to experience an increase in new work was private industrial.

Adapted from press release by Louise Fordham

Read the article online at: https://www.worldcement.com/europe-cis/13032015/ons-uk-construction-statistics-4q14-january-2015-515/