Construction new work output climbs 0.6%

Aaron Morby 8 years ago
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Construction new work output continues to steadily climb, according to the latest Government figures for the fourth quarter of last year.

But a 6% fall in repair and maintenance activity saw construction output as a whole slip by 2% during the period.

After October and November delivered small falls in growth, December bounced back with a 3% rise in new work output.

The latest figures also show that the industry as a whole grew by 7.4% last year compared to 2013 (see table below).

These new Government figures have been greeted with cautious optimism as the industry braces itself for a possible hiatus in workload later in the year because of the looming general election.

Stefan Friedhoff, managing director for construction at Lloyds Bank Commercial Banking, said: “With other survey data – including the monthly PMI – suggesting a buoyant start to 2015 and with commercial construction continuing to rebound while pipelines and order books fill up at a healthy pace, the sector’s optimism is tangible.

“Nevertheless, there is uncertainty over the outcome of the general election and the prospect of a standstill in decision-making in the run-up to 7th May, while the cost of subcontractors also continues to rise with little sign of this relenting.

“Current sentiment can best be described as cautiously optimistic and construction firms are longing for some stability to keep the recovery on track throughout 2015.”

Across the sectors infrastructure recorded a 3.6% rise against the previous quarter at the end of the year, commercial work edged up 0.8% and public building work also edged up 1.5%.

There were further signs of an end of year slowing in house building with both private and public housing output slipping 0.2%.

2014 Construction output growth by sector
2013 level£000s 2014 level£000s % growth

 

Total All Work 113,006 121,335 7.4
Total All New Work 69,584 74,769 7.5
Total Repair & Maintenance 43,422 46,566 7.2
All New Work
New Housing 21,617 26,587 23.0
Public Housing 4,441 5,633 26.8
Private Housing 17,176 20,954 22.0
Other New Work
Infrastructure 13,343 13,256 -0.7
Public Corporations 9,395 9,161 -2.5
Private Sector
Industrial 3,117 3,659 17.4
Commercial 22,113 22,106 0.0
Repair & Maintenance
Public Housing 7,058 7,121 0.9
Private Housing 14,118 15,747 11.5
Non-Housing 22,246 23,698 6.5

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