GB growth continues

A picture of continued growth is being reported for Great Britain’s construction industry in the latest figures from the Office for National Statistics (ONS), with the 16^th consecutive period of year-on-year monthly growth.

In the third quarter of 2014, output in the construction industry was estimated to have grown by 0.8% compared with the second quarter. Between the third quarter of 2013 and the same period in 2014, output was estimated to have increased by 2.9%.

The ONS reported this was the sixth consecutive period of annual quarter-on-quarter growth.

In September 2014, output – defined as the amount charged by construction companies to customers for the value of work (produced during the reporting period) excluding VAT and payments to sub-contractors – was estimated to have increased by 1.8% compared with August 2014, following a fall of 3.0% in August and an increase of 2.0% in July.

On the year, the ONS said that the picture was of continued growth, with output in the construction industry increasing by 3.5% in September 2014 compared with September 2013. This was the 16th consecutive period of year-on-year monthly growth.

It said that upward pressure on the quarter and on the month came from new housing which was at its highest monthly level since the series began in 2010.

While there was strength in private new housing during this period, public new housing was at its highest monthly level since the series began in 2010, and its quarterly level was the highest since the series began in 1997.