Construction output drops, but market remains confident
The latest statistics from the Office of National Statistics show that construction output has dropped in the three month on three month series.
A small drop of 0.8% has been recorded, which has been driven mainly by drops in private commercial and public new work.
However, levels still remain high with output still hitting a high against the low of 2013. The industry is still going forward with levels at 27.3% above this low point.
Martin Bennett, Main Board Director of The Vinden Partnership, said: “The latest ONS results just reflect just how volatile an industry construction is. This fall has occurred despite a rise in the month-on-month time series, with construction output rising 0.6% after two consecutive months of decline.
“Construction output peaked in January 2017, reaching 29% above January 2013 and despite the three month on three month series falling with these latest statistics, construction output remains 27.3% above this level.
“Strides are being taken in housing and infrastructure work which should continue to drive the industry and bring increases to output with the next statistics released.”
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