Public housing hits four-year low

At £974m, output in public housing is now at its lowest level for four years, according to the Office for National Statistics.

Public housing output fell by 22 per cent in Q2. Its previous low was in Q2 2012, when output stood at £961m.

On a year-on-year basis, only three sectors reported growth in Q2 – private housing (6.6 per cent), private commercial (1.1 per cent) and non-housing R&M (0.2 per cent) – compared with the same quarter a year earlier.

All other sectors saw a contraction, with notable year-on-year declines in infrastructure (down 10.1 per cent), private industrial (8.2 per cent) and public housing R&M (4.8 per cent).

The 0.7 per cent quarter-on-quarter decline in overall output in Q2 represents the second consecutive quarter of negative growth, placing construction in a technical recession.

Source link

LinkedIn
Twitter
Facebook
Pinterest
WhatsApp
Email
Latest Issue
Issue 324 : Jan 2025