The Office for National Statistics (ONS) has released its latest estimates of output in the construction industry for October 2014 and for new orders for 3Q14.
- In October 2014, output in the construction industry decreased by 2.2% compared with September 2014. Both new work and repair and maintenance decreased, by 1.7% and 3.1% respectively. In the new work category, only public other new work saw an increase; all repair and maintenance work categories experienced a fall in work in October.
- The second estimate of GDP for 3Q14 published on 26 November 2014 included an estimate of construction, which showed a growth of 0.8%. This estimate has been revised based on updated survey responses and is now estimated to be 1.6%.
- In October 2014, output in the construction industry showed continued year-on-year growth for the 17th consecutive month, increasing by 0.7%. However, this is the weakest year-on-year growth since May 2013.
- New orders for the construction industry in 3Q14 were estimated to have increased by 5.2% compared with 2Q14 and by 3.2% compared with 3Q13. There were increases in private commercial (22.4%), private new housing (12.9%) and infrastructure (8.1%).
Adapted from press release by Rosalie Starling
Read the article online at: https://www.worldcement.com/europe-cis/16122014/ons-releases-construction-data-for-october-2014-23/