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UK Construction volumes slump to 4 year low

UK Construction

UK construction output fell to its lowest level in four years in the July to September 2016 period, according to the latest figures from the Office for National Statistics.

Access the full ONS report here.

Construction volumes fell 1.1% during Q3 compared to the April-June period, marking this the weakest performance since Q3 2012, although less than the 1.4% drop expected.

Downward pressure came from repair and maintenance, which fell 3.6%, partially offset by an increase in new work of 0.3%.

In September 2016, construction output increased 0.3% compared with August, versus expectations for a 0.2% drop. On the year, output increased 0.2% from September 2015.

Howard Archer, chief UK and European economist at IHS Global Insight, said: “By contracting 1.1% quarter-on-quarter in the third quarter after a dip of 0.1% in the second quarter, the sector is effectively in recession. He said the data showed “a lacklustre end to a poor quarter for the construction sector”.

Interested to having access to all the very latest economic data? Then access the Insight DIY Knowledge Centre here.

Source: ONS Data


12 November 2016

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