ONS January Construction Output Data
Following the Office for National Statistics (ONS) release of their January Construction Output Data for Great Britain, Professor Noble Francis (Economics Director at the CPA & Honorary Professor at the Bartlett School of Construction of Project Management, UCL) comments on the key findings from the research.
Some main points outlined by the ONS include:
- Construction output increased by 1.4% in the three months to January 2020, compared with the previous three-month period; this was driven by 2.4% growth in new work but offset by a 0.6% fall in repair and maintenance.
- The rise in new work in the three months to January 2020 was because of growth in all sectors, with the largest positive contributions coming from private housing, private commercial and infrastructure, which increased by 2.4%, 2.1% and 1.7% respectively.
Professor Noble Francis concludes below:
Looking at the longer-term context in the ONS construction output data, 70% of the growth in construction output since 2013 was due to housing (sustained by Help to Buy) & major infrastructure projects (even before today’s Budget & HS2 main works!).
For more information read the full report here.
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