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Construction sector continued recent solid performance in October
Construction sector continued recent solid performance in October

Construction sector continued recent solid performance in October

The construction sector continued its recent solid performance, registering a 1.2% increase in output in the three months up to October 2018.

It continues the trend of recovery witnessed in the sector over the recent months, and the rate of output in the three-month on three-month series has increased from the levels seen in the third quarter of 2018.

Following a marked fall in the rolling three-month series at the start of the year, the recent solid performance has continued and the growth means that October represents a “new historic high in the rolling three-month chained volume measure, seasonally adjusted data.”

There has been a fall in output recorded in October, with a decrease of 0.2% when compared with the previous month.

The reasons given were declines in infrastructure (3.7%) and public new housing (8.1%) – though these were offset by a 2.4% rise in private new housing.

For the quarter to October, growth was recorded in new orders and public other new work, which enjoyed a substantial increase.

Housing new orders did decline though.

However, although the rate of output in the three-month series has declined in terms of pace since the 3% in July, the three months to October has continued the recent solid performance in the sector.

It provides a much more comprehensive picture of the underlying trends.

In terms of the monthly figures, although there is a slight decrease, the construction industry will be encouraged by the news that the monthly series is almost 4% higher than the output recorded in October 2017 by the Office for National Statistics (ONS).

Rob Kent-Smith, Head of National Accounts for the ONS, explained why construction has continued to perform as a sector.

He said: “Construction, while slowing slightly, continued its recent solid performance with growth in housebuilding and infrastructure.”

Clearly, the winter months will provide sterner challenges. But, for now, the picture is encouraging.

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