August Output Dip Ends Sluggish Summer for Construction
Construction weighs down the economy as investor caution delays site starts. The latest figures from the ONS showed the sector lagging behind the wider economy, which grew by 0.1% in August.
Many builders struggled to move from pre-construction to live site starts amid ongoing investor caution. Across the three months to August, output was still 0.3% higher, driven by private housing repair and maintenance — up 5.6%.
“Today’s figures reflect the subdued economic picture in the industry at present, with output falling by 0.3% following no growth in July, and underperforming against the overall economy which grew by 0.1% in August.” - Clive Docwra, Managing Director of McBains
Some economists have privately questioned the reliability of these figures, which have fluctuated sharply over the last few years.
Author's summary: Construction output dips in August.