Figures released by the UK’s Office for National Statistics estimate that seasonally adjusted construction output in April improved by 1.2% m/m. Compared to April 2013, construction output achieved growth of 4.6% y/y. Within this, new work in April 2014 increased by 0.5% m/m and by 4.9% y/y, while repair and maintenance saw a rise of 1.6% m/m and 4.2% y/y.
An earlier construction output estimate for 1Q14 has been revised upwards from 0.6% growth to 1.5%, mainly due to the addition of late survey data for March 2014. This puts construction’s contribution to GDP growth at a higher figure of 0.09 percentage points.
In 1Q14, new orders in the UK construction industry are estimated to be down 6.3% when compared with 4Q13. Despite a rise in private housing new orders (2.8%) and public other new work (6.8%), declines occurred in orders for public new housing (-45.7%), infrastructure (-16.5%), private industrial (-14.6%) and private commercial work (-1.9%).
Adapted from ONS data by Louise Fordham
Read the article online at: https://www.worldcement.com/europe-cis/16062014/uk_construction_output_estimates_for_april_2014_352/