Construction output slowed in August

Statistical bulletin released last week by the Office for National Statistics (ONS) showed that construction output decreased by 1.5% in August, this is the second release of construction output covering data post-EU referendum.

Following a revised increase in July 2016 of 0.5%, construction output decreased in August 2016 by 1.5%. They state you should note that they always warn against overly interpreting one month’s figures.

All new work, and repair and maintenance reported decreases, falling by 1.4% and 1.5% respectively, with the largest downwards contribution in all new work coming from infrastructure.

The underlying pattern as suggested by the 3 month on 3 month movement in output in the construction industry decreased by 1.3%.

The longer-term picture as suggested by the year-on-year movement shows output in the construction industry increased by 0.2% compared with August 2015 with all new work increasing by 1.1%, however, repair and maintenance decreased by 1.3%.

Read the ONS Construction output report in Great Britain – August 2016 in full click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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