Construction returns to growth in January: ONS | Mortgage Strategy

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The construction industry enjoyed a 0.9 per cent increase in output on a monthly basis this January, says the Office for National Statistics.

This comes after the 2.9 per cent decrease seen in December 2020.

However, despite this return to monthly growth (of which there were seven in a row before the end of last year), January’s output lags February 2020’s level by 2.6 per cent.

In January 2021, new work grew by 1.7 per cent, the ONS adds – 6.4 per cent lower than in February 2020.

And repair and maintenance work fell by 0.4 per cent in the first month of this year, which is a 4.5 per cent gain on February 2020’s figure.

Beard finance director Fraser Johns says: “These latest figures, while positive for the future of the industry, suggest there is still a little nervousness in the market.

“The construction industry has already shown incredible resilience in the second half of 2020, and this 0.9 per cent increase in output at the start of 2021 is welcome news. While we are clearly not out of the woods completely, the green shoots of recovery are beginning to show.

“As we enter spring, we expect demand to pick up quickly and bounce back as projects that have been on hold are given the go ahead.”


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