Following bad PMI data for construction earlier this week, ONS figures released today have shown a decline in UK construction in January:
- The non-seasonally adjusted volume of construction output decreased by 10.2%. New work decreased by 12.7% and repair and maintenance by 5.3%.
- The largest contributor to the decline in output was the private commercial sector which fell by 14.5%. This is the largest sector, contributing approximately 22% to total output.
- The volume of infrastructure work decreased by 8.9%, continuing the decline seen in the last two months.
- New public non–housing decreased by 23.5%.
- Public housing decreased by 20.4%. This sector is relatively small, contributing approximately 3% to total construction output.
Triple dip fears in UK, which many hoped had disappeared with better service figures, back on again after bad 6.3 m/m fall in construction..— Faisal Islam (@faisalislam) March 8, 2013