At FASET (Fall Arrest Safety Equipment Training) we strive to bring you the latest news from our industry sector, particularly regarding health and safety, ESG and how Brexit and the economy are impacting on construction. We are pleased to bring you the following update from the Construction Leadership Council (CLC) on construction output for August 2022.
Monthly construction output increased by 0.4% in volume terms in August 2022, which is the second consecutive monthly growth following the upwardly revised increase to 0.1% in July 2022; August 2022 is the second highest monthly value in level terms (£15,011 million), with May 2022 remaining at the highest level since records began in January 2010 (£15,035 million).
The increase in monthly construction output in August 2022 came solely from an increase in new work (1.9%), as repair and maintenance saw a decrease (2.0%) on the month.
At the sector level, the main contributors to the increase seen in August 2022 were infrastructure, private industrial and private housing new work, which increased 5.3%, 4.3% and 1.7%, respectively.
The level of construction output in August 2022 was 3.2% (£461 million) above the February 2020 pre-coronavirus (COVID-19) level; new work was 0.7% (£69 million) below its February 2020 level, while repair and maintenance work was 10.6% (£530 million) above the February 2020 level.
Alongside the monthly increase, construction output saw a slight increase of 0.1% in the three months to August 2022; this came solely from an increase seen in new work (1.6%) as repair and maintenance saw a decrease (2.4%), this is the tenth consecutive period of growth in the three month on three month series, however it is the slowest rate of growth since the three months to October 2021 that saw a fall of 0.7%.
In this month’s release, the earliest period open to revision is January 2011, and this is the first time the monthly path has been published that is consistent with the Quarter 2 (Apr to June) 2022 quarterly national accounts published on 30 September 2022.
Read the full BEIS construction dashboard here.
Download the ONS Construction update here.