According to data released by the Office for National Statistics (ONS), output in the construction industry increased by 1.2% in June 2014, compared with May 2014, and by 5.3% compared with the same month a year earlier.
The quarterly output in the UK construction industry has steadily increased since 1Q13, and in 2Q14 was estimated to be 6.7% higher than in 1Q13. This growth in output was attributed to increases in both new work and repair and maintenance; new work increased by 6.7% in 2Q14. Furthermore, according to the data, there has been a steady increase in the volume of repair and maintenance work from 2013 onwards. Repair and maintenance was estimated to be 6.9% higher in 2Q14 compared to 1Q13.
In June 2014, ONS data revealed that all new work increased by 0.9% compared with May 2014 and by 5.4% compared with June 2013. According to the data, new housing has provided the main contribution to growth in all new work; however, the fall in other new work and its weight in all new work, approximately 47%, has negated the rise in new housing.
In June 2014, all new housing increased by 1.9% compared with May 2014 and by 17.9% compared with June 2013. This has resulted in the monthly new housing series being at its highest level since it began in 2010. In addition, both public and private new housing are estimated to be at their highest level since the series began.
New housing increased by 3.5% in 2Q14 compared with 1Q14 as a result of three individual months of positive growth within the quarter.
Adapted from press release by Rosalie Starling
Read the article online at: https://www.worldcement.com/europe-cis/18082014/uk-construction-sector-increased-by-1-2-percent-in-june-2014-308/