ACR-News
Know what you want? Try our 'Supplier Directory' 

Continued decline in construction output

ONS figures have shown that construction output has continued to fall.

 

Construction output in October fell by 1.7 percent and was 0.2 percent lower compared with one year earlier. New orders in Q3 rose 37.4 percent over the quarter and 25.5 percent on an annual basis.

Rebecca Larkin, senior economist at the Construction Products Association, commented: “Today’s data confirm that previous falls in new orders over the last 12 months are beginning to translate into lower construction activity in the commercial and public non-housing sectors.

“In addition, output in private housing RM&I, the third-largest sector, has now fallen for two consecutive months and taken in conjunction with the recent decline in new car registrations, suggests consumer willingness to spend on big-ticket purchases is being constrained by the fall in real wages.

“With regards to new orders in Q3, the strong headline growth rate was driven by infrastructure, reflecting the award of phase one contracts for HS2, a project worth £55.7 billion overall. As the ONS points out, new orders growth rates this high were only previously recorded when contracts for the Channel Tunnel were awarded in 1987. This aligns with the CPA’s forecast of infrastructure as the primary driver of output growth over the next two years.

“Excluding infrastructure, new orders rose 4.1 percent, including a 35.4 percent increase in public housing, to the highest in three years as work accelerates under the Shared Ownership and Affordable Homes Programme. However, the data for new orders signals that the weakness in the commercial and public non-housing sectors is likely to continue.”

Comments

Already Registered?
Sign In
Not Yet Registered?
Register

World Refrigeration Day

Industry has embraced the inaugural World Refrigeration Day (WRD) with events happening all over the world....

  25-Jun-2019

How to install HVAC wall sensors?

In a series of three blog posts, learn how to avoid the most common pitfalls when installing HVAC sensors focusing on physical measurement errors that are caused by incorrect installation...

  22-Jan-2020

New Zanotti GM Wall Mounted Monoblock

AFR Refrigeration Ltd introduces the new GM range of through wall mounted monoblocks with refreshed modern appearance and upgraded touch style control panel keypad.
  17-Jan-2020
ACR News is the number one magazine in the air conditioning and refrigeration industry. Don’t miss out, subscribe today!
Subcribe to ACR News

Jobs

FULL TIME HVAC SENIOR SERVICE TECHNICIAN IN BERMUDA’

Air Pro Ltd., an Authorized Dealer of Toshiba Air Conditioning, is a progressive HVAC, Sheet Metal and Refrigeration Company that is seeking an ambitious, hardworking and innovative HVAC SENIOR SERVICE TECHNICIAN to join the team in BERMUDA....

Diary

ASHRAE Winter Conference
Endo Enterprises "Reduce Heating Bills by up to 15%" Ben Salon
Euroshop
Institute of Refrigeration Annual Dinner