Linggo, Hulyo 9, 2017

ONS: Construction industry output dropped in May

The construction industry suffered a downturn in growth in May according to the latest figures from the Office of National Statistics.

Construction output fell by 1.2% and also by the same amount on the three month on three month comparison.

The latest three-month on three-month performance saw the biggest dip since September 2012.

The month-on-year performance was also down 0.3% on May’s 2016’s figure.

The main factor in the decrease in output came from a lack of new work, particularly from the infrastructure sector which fell by 4%.

The fall in infrastructure output follows its impressive performance the previous month, where it recorded growth of 7.4%.

Other notable areas of contraction came in private commercial work, which shrank at a rate of 1.6% and non-housing repair and maintenance – falling for the third consecutive month at a rate of 1.3%.

There was good news for the public house building sector which rose by 6.1% in May – a remarkable turnaround for the sub-sector after posting a decrease of 5.4% only a month before.

Private house building saw a very slight drop off of 01% on April’s figures but was 1.3% down on the most recent three month on three month comparison.

The figures follow on the heels of the latest IHS Markit/CIPS UK Construction PMI figures, which also revealed a slowdown in growth in the construction industry in June.

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The post ONS: Construction industry output dropped in May appeared first on UK Construction Online.


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