We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedGovernance

UK construction output in Sept decline


ONS data reveals big drop in commercial construction

Article comments

UK construction activity dipped by 13.1 percent in September on an annualised basis, the Office for National Statistics said on Friday.

As the downturn continued, September saw yet more drops in new building works by the commercial and public sectors. Both commercial building works and public sector works, excluding infrastructure, fell by a fifth from a year ago.

An ONS spokesperson said that while house building activity saw a 5 percent bounce in month-over-month terms; it still remained 12 percent below the activity recorded over the corresponding period last year.

Last week, Markit and CIPS noted that both residential and commercial construction activity continued to decline in October for the fifth month in a row. They also added that employers in the construction sector cut jobs at the fastest rate since August 2011.

Howard Archer, chief UK economist at IHS Global Insight, said the latest evidence on construction does little to suggest that the sector’s fortunes are starting to improve markedly.

“On top of ONS data, the October (construction) purchasing managers’ survey indicated that it is very possible that the sector could be headed for yet further contraction in the fourth quarter...Business expectations in the sector remain very low compared to past norms,” he told CFOWorld.

Even if the construction sector can avoid further contraction in the fourth quarter, it certainly looks unrealistic to expect it to materially contribute to growth, Archer added.

Share:

Comments

UK construction output in Sept decline
Governance

What makes a good board report?

What makes a good board report?

Examining how CFOs can improve the way they report back to the boardmore ..


Vodafone buys out partner's stake in Indian unit

Mobile giant acquires the remaining 11% it did not already ownmore ..

Financial advisers not being clear enough on charges, says watchdog

FCA’s review found 73% of firms failed to provide adequate informationmore ..

EU data retention rules violate privacy rights, EU court rules

Rules requiring telcos to retain communications metadata are disproportionate, the court saidmore ..

Examining the issue of corporate litigation funding

Litigation funding is a very useful tool for CFOs but not a panacea for all legal mattersmore ..

Corporate governance: A catalyst for innovation

Corporate governance is a powerful tool in a C-suite executive’s arsenalmore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
How M&A teams can create value by challenging the CEO

How M&A teams can create value by challenging the CEO

A typical “hold” period of nine to 18 months can generate increased sale value more ..

In Depth
What every company needs to do about big data?

What every company needs to do about big data?

In the first of a three part series, Pat Brans explores just how big 'big data' will get? more ..

Advertisement

* *