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8th September 2023
Construction output in July was unchanged on the previous month, but 1.5% down on a year ago. Output during the three months May to July was 1.2% down on the preceding three months and 0.7% lower than a year ago.
Private new housing output slipped 3.3% during the three months to July against the preceding three months, but was still 7.5% up on a year ago. In contrast new social housing output remained weak; unchanged on the previous three months and 12.2% down on a year ago. Public housing RM&I output was also lower, being 8.3% down on a year ago.
Industrial sector output has continued to recover from a poor first quarter performance, although it remained 8.7% down on a year ago. Commercial sector output was 1.0% lower than during the previous three months, but 1.7% up on a year ago.
Infrastructure output also slipped back during the three months to July, being 2.2% down on the previous three months and 8.7% down on a year ago.
More encouragingly public non-residential work also grew by 2.5% during the three months to August and was 1.1% up on a year ago.
We anticipate that the third quarter will see a further weakening in output as private investors delay and review projects following the referendum decision. However, the industry may subsequently benefit from increased funding in the Autumn Statement for infrastructure and public sector projects.
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