Daily Newsletter

15 July 2024

Daily Newsletter

15 July 2024

UK construction output grows 1.9% in May 2024 

Total new housing also saw a 2.8% increase during the month.

Nancy Victor July 12 2024

The UK construction industry experienced a rebound in May 2024, with output growing by 1.9% in volume terms, as reported by the country's Office for National Statistics.

This figure follows a revised 1.1% decline reported the previous month.

In May, the UK's construction sector witnessed a significant upturn, driven by a 2.7% increase in new work and a 0.8% rise in repair and maintenance activities.  

The warmer weather, confirmed as the warmest May on record by the Met Office, was cited as another contributing factor to these enhanced output levels.  

The industry growth was widespread, with eight out of nine sectors within the industry reporting an upturn. 

Notably, total new housing saw a 2.8% increase, bolstered by gains in both private and public segments.  

Additionally, infrastructure new work and non-housing repair and maintenance grew by 3.5% and 2.1%, respectively.  

Despite the positive monthly performance, the three-month outlook leading up to May this year indicated a 0.7% decline in construction output.  

This was attributed to a 0.9% decrease in new work and a 0.3% reduction in repair and maintenance.  

Federation of Master Builders CEO Brian Berry said: “It is particularly pleasing to see new work up 2.7%, with repair and maintenance also increasing.  

“Data from the end of 2023 had offered hope of improving longer-term conditions, but poor weather in the earlier months of 2024 has seen continued decline. Construction is a key pillar of the overall UK economy, and so this offers wider cause for optimism.” 

Construction Market Overview

GlobalData's latest report provides a detailed market growth analysis of the global construction industry up to 2028. The report further covers the regional outlook with a country-wise overview, including crucial project updates, to identify future business prospects. In terms of industry, per GlobalData, growth in energy and utilities as well as infrastructure construction will drive the overall real construction growth by 2028.

Construction Market Overview

GlobalData's latest report provides a detailed market growth analysis of the global construction industry up to 2028. The report further covers the regional outlook with a country-wise overview, including crucial project updates, to identify future business prospects. In terms of industry, per GlobalData, growth in energy and utilities as well as infrastructure construction will drive the overall real construction growth by 2028.

Construction Market Overview

GlobalData's latest report provides a detailed market growth analysis of the global construction industry up to 2028. The report further covers the regional outlook with a country-wise overview, including crucial project updates, to identify future business prospects. In terms of industry, per GlobalData, growth in energy and utilities as well as infrastructure construction will drive the overall real construction growth by 2028.

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