Construction output down in July but orders are rising

Arthur Online

By Arthur Online

22 April 2024

A decline in refurbishment, maintenance work and new housing growth rates hit output figures in July. Overall, there was no growth recorded for the month.

Private sector home building rose 1.1% on the month in July, down from 2% in June.

Stefan Friedhoff, Global Corporates Managing Director for construction at Lloyds Bank Commercial Banking, said: “The industry will take this data with a pinch of salt, particularly as other industry readings earlier in the month reported optimism among construction firms.

“As always, the reality is somewhere in between. There is undoubtedly a buoyancy in the industry rarely seen since the recession, but some factors are concerning.

“Demand is increasing but contractors are having to contend with cost inflation, labour shortages and a relentless pressure on their supply chains.”

However, new orders also published on 12th September for the second quarter were 3.8% higher than in Q1.

There were increases in infrastructure (20.8%), private commercial (9.6%), public new housing (7.3%).

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Arthur Online

By Arthur Online

22 April 2024

 

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