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
You May Also Enjoy
What does latent defects insurance cover?
Breaking Property News – 24/04/24
An average rate of 6% for the first time since November – Rightmove’s weekly mortgage tracker
Understanding Property Valuation: A Simple Guide
Aberdeen is cheapest city to be a first-time buyer