Update on monthly construction for January 2023

As the established trade association and training body for the safety netting and temporary safety systems industry, FASET aims to always keep up to date with the latest news from the building access industry. We are pleased to share the following story from the Construction Leadership Council website (https://www.constructionleadershipcouncil.co.uk/).

Monthly construction output is estimated to have flat growth (0.0%) in volume terms in November 2022; this follows a downwardly revised increase of 0.4% in October 2022 (revised down from growth of 0.8% in our previous publication).

The flat growth in monthly construction output in November 2022 came from a decrease in new work (0.4% fall), offset by an increase in repair and maintenance (0.6%) on the month.

At the sector level, the main positive contributors to the flat growth were seen in infrastructure new work and non-housing repair and maintenance, which increased 4.2% and 2.4%, respectively; the main negative contributors were seen in private new housing and private housing repair and maintenance, falling 4.8% and 1.7%, respectively.

The level of construction output volume in November 2022 was 3.1% (£452 million) above the February 2020 pre-coronavirus (COVID-19) pandemic level; new work was 3.4% (£327 million) below its February 2020 level, while repair and maintenance work was 15.5% (£778 million) above the February 2020 level.

Construction output saw an increase of 0.3% in the three months to November 2022; the increase came solely from growth in new work (1.3%) as repair and maintenance saw a decrease (1.2% fall).

Revisions in this release are seen back to January 2021 and are consistent with the Gross domestic product (GDP) quarterly national accounts, UK: July to September 2022 bulletin, published on 22 December 2022).

Read the full BEIS construction dashboard here.

Download the ONS Construction update here.

#construction #economy #CLC #construction output #constructionleadershipcouncil

Image: Shutterstock

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