ONS data reveals autumn boost
The latest data from the Office for National Statistics shows that construction enjoyed an autumnal boost, with output increasing 0.8% in volume terms in October 2022.
This is the fourth consecutive month of growth as construction recovered over the summer, with October 2022 being the highest level of construction output (£15,248M) since records began in January 2010.
The data also reveals a growth in the three-month-on-three-month figures, bringing about a full 12 months of growth for the industry.
While respondents noted that some products are still holding higher prices, annual price growth overall is now starting to ease from the mid-summer highs. Despite the current high prices, the construction industry is maintaining growth, and new orders books remain strong according to this data.
New work and repair and maintenance led the growth over the autumn, with increases of 0.5% in new work and 1.3% for repair and maintenance on the month.
At the sector level, five out of the nine sectors saw a rise in October 2022, with the main contributors to the monthly increase seen in private new housing, and non-housing repair and maintenance, which increased 2.9% and 1.7%, respectively.
The level of construction output in October 2022 was 4.8% (£698 million) above the February 2020 pre-coronavirus (COVID-19) pandemic level; new work was 0.2% (£21 million) above its February 2020 level, while repair and maintenance work was 13.5% (£677 million) above the February 2020 level.
Construction output saw an increase of 1.1% in the three months to October 2022, with the increase coming solely from growth in new work (3.1%) as repair and maintenance saw a decrease (2.1% fall).
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