Tom PodmoreDavid Crosthwaite, chief economist for the Building Cost Information Service, responds to the latest UK GDP data published by the ONS which revealed construction output grew by 0.4 per cent in August.
There is positive news with the latest release of GDP data for the United Kingdom as whole economy output has returned to growth (0.2 per cent) in August after two months of flatlining, making GDP 1 per cent higher than the same time a year ago.
The government’s Autumn Budget will make a significant difference to how the industry fares going into 2025.
Even better news for construction, which saw a 0.4 per cent uptick in output in August, largely due to better weather through the month.
On a quarterly basis construction output increased by 1%. The increase was led by growth in new work output (1.7 per cent) as growth in repair and maintenance stagnated, with growth in infrastructure output (2.7 per cent) being the main contributor to the uplift.
The government’s Autumn Budget will make a significant difference to how the industry fares going into 2025.
I hope the Chancellor is going to be bold and deliver on Labour’s pledges for housing, infrastructure investment and decarbonisation. Crucially, I hope the government doesn’t delay already critical decisions even longer.”
Author
