The UK Office of National Statistics (ONS) has released the latest output figures for the construction industry. Highlights from the ONS statistical bulletin can be found below.
Construction output in December 2013 was 6.3% higher than in the corresponding month in 2012 and 2% higher than in November 2013. Both new work and repairs and maintenance drove the increase, with notable growth in new private dwelling and new private commercial building activity. December 2013 marked seven consecutive months of y/y growth.
In the final quarter of the year, construction output is estimated to have risen by 0.2% q/q on a seasonally adjusted basis, representing the longest run of q/q growth since 3Q10.
In 4Q13, the volume of new construction work improved by 0.7% but repair and maintenance output declined by 0.5%.
Output from the construction sector reached £112.6 billion in 2013, up 1.3% on 2012. The y/y increase was largely down to the new housing sector, which grew by 10.4% y/y in 2013.
The estimated total construction output for the year is 3.9% higher than during the peak of the economic crisis in 2009, but still 12.2% lower than the £128.2 billion recorded in 2007 before the downturn.
Adapted from ONS statistical bulletin by Louise Fordham
Read the article online at: https://www.worldcement.com/europe-cis/14022014/uk_construction_industry_output_2013_ons_highlights_748/