UK construction continues recovery
The UK construction sector is continuing its recovery with orders and output on the increase, according to new government figures.
A report from the Office for National Statistics (
ONS) noted that output had grown by 2.2 per cent over the course of October, compared against September. It highlighted the steady progress that the industry is making adding to a 5.3 per cent improvement on the same period a year previous. The government department also announced revision to output during the first three quarters of 2013 which is set to spark UK GDP progress in the future.
Commercial orders and housing were found to be the driving forces behind the positive figures with the former receiving a spike over the course of the year. The
ONS noted that construction stood at 18 per cent higher year-on-year which is set to put the industry on course to carry this positive performance into 2014.
Dr Noble Francis, economic director at the Construction Products Association, said: "Unsurprisingly, private housing has been the key driver of recent output growth. Demand in the housing market has been boosted by Help to Buy and, as a consequence, output in the sector rose 6.2 per cent in October compared with September and 16.9 per cent compared with a year earlier.
"In addition, output in the largest construction sector, private commercial, rose 0.8 per cent in October compared with September and grew 8.7 per cent compared with a year ago, driven primarily by major projects in London."
The ONS figures comes after the latest Markit/CIPS UK Construction Purchasing Managers' Index showed the fastest rise in output since September 2007. The figures for November stood at 62.6, an increase on the 59.4 recorded in October, any sum over 50 is an indicator of growth in the sector.
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Date: 16/12/2013 16:22:00
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