WIREDGOV

Key Points

• This statistical bulletin provides users with the latest estimates of output in the construction industry for February 2014. Output is defined as the amount charged by construction companies to customers for value of work (produced during the reporting period) excluding VAT and payments to sub-contractors.
• The seasonally adjusted estimate of construction output in February 2014 fell by 2.8% (£270 million) when compared with January 2014. There were falls in both sub-sectors with new work falling 2.6% (£160 million) and repair & maintenance falling 3.1% (£110 million).
• The longer term data show a slightly improved picture emphasising the volatility in the short term estimates. The three monthly (December to February) estimate of construction output is that all work grew 0.3% when compared with the previous three months (September to November) due to a 1.0% increase in new work. During this period repair & maintenance decreased 0.8% despite a slight rise of 0.3% in public housing repair & maintenance.
• Estimated to be £5,800 million in February 2014, the output of new work is now 12.3% below its monthly peak of £6,600 million recorded in June 2011.