)
Construction output has made a marginal rise of 0.2 per cent in September aided by an increase in new work.
In the latest data published by the Office of National Statistics (ONS) on Thursday (13 November), September’s rise on August’s figure was driven by a 0.7 per cent rise in new work, but hindered by a decrease in repair and maintenance work, which fell 0.5 per cent.
Overall there was just a 0.1 per cent rise in construction output in the third quarter of the year. Over the same period, orders grew 10 per cent.
The slow growth comes ahead of the Autumn Budget, which many fear could further impact the sector.
Fergus Jimenez-England, associate economist at the National Institute of Economic and Social Research, said the data shows the economy is “running out of steam” ahead of the Budget.
“Growth this quarter reflects base effects from an uneven previous quarter, with more recent monthly activity falling,” he said.
“We expect GDP growth this year to be stronger than last, but this is supported by government spending rather than private sector activity.
“With fiscal tightening widely expected in the Autumn Budget, the chancellor must focus on restoring confidence by setting aside a larger buffer to reduce policy churn and uncertainty.”
However, Clive Docwra, managing director of property construction consultancy McBains, said the figures will provide some relief.
Source: Construction News
London Build is the UK's largest and leading construction show. Featuring 450+ Exhibitors, 750+ Speakers across 12 CPD Conference Stages, 38,000+ Registered Attendees, 20+ Networking Parties, Meet the Buyers, DJs, entertainment and so much more. Don’t miss out on free tickets. Register now