Output in the Construction Industry, August 2015

9 Oct 2015 02:06 PM

Main points

• In August 2015, output in the construction industry was estimated to have decreased by 4.3% compared with July 2015 and decreased by 1.3% compared with August 2014. This was the first year-on-year fall since May 2013.
• All new work decreased in August 2015 compared with July 2015 by 3.6%, repair and maintenance (R&M) decreased by 5.6% over the same period. All work types reported decreases.
• Comparing the 3 months, June 2015 to August 2015, with the previous 3 months, March 2015 to May 2015, construction output fell by 0.8%. Repair and maintenance decreased by 3.6% while all new work increased by 0.7%.
• When comparing the 3 months, June 2015 to August 2015, with the same 3 months a year ago, construction output was estimated to have increased by 1.8%. All new work increased by 5.6% while repair and maintenance decreased by 4.6%.
• The Quarterly National Accounts (QNA) published on 30 September 2015 included an estimate of construction output for Quarter 2 (Apr to June) 2015 of 1.4%, this was an upwards revision to the estimate included in the second estimate of GDP for Quarter 2 (Apr to June) 2015 which showed an increase of 0.2%.
• These estimates are consistent with the Quarter 2 (Apr to June) 2015 QNA consistent with Blue Book 2015. Revisions in the data are due to several factors, re-weighting and re-referencing the indices to 2012 = 100 to align with the National Accounts outputs and the incorporation of late data.
• Each component of GDP has a weight within GDP based on its value in 2012. Construction has a weight of 59 in 2012 and contributes 5.9% to GDP; this is lower than the 2011 contribution of 6.4%.

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