Construction growth looks steady and sustainable
Published: 28 November, 2013
Figures from the Office for National Statistics (ONS) show that the economy grew by 1.5% in Q3 2013 when compared with Q3 2012.
Construction output grew by 1.7% year-on-year, a downward revision of the 2.5% in the ONS' preliminary estimate.
Julia Evans, chief executive of the National Federation of Builders, said: "The revised output figures will do little to dampen the level of confidence that I am seeing across the industry. Overall construction output is rising at a rate that we believe is sustainable. While this is being driven primarily by housebuilding, other parts of the sector should catch up once the supply of materials meets the demand."
Construction output rose by 4.1% in Q3 compared with the same period in 2012. While this is still below peak periods of 2007-2008, the industry has developed an industrial strategy with government which will address issues such as growth, skills, efficiency and finance that sets out to transform the sector by 2025.