{"id":146877,"date":"2024-12-13T11:46:09","date_gmt":"2024-12-13T11:46:09","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=146877"},"modified":"2024-12-13T11:46:09","modified_gmt":"2024-12-13T11:46:09","slug":"ons-construction-statistics-show-minor-decline-output","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/ons-construction-statistics-show-minor-decline-output\/146877\/","title":{"rendered":"ONS construction statistics show minor decline in output"},"content":{"rendered":"<h2>The Office for National Statistics (ONS) has released its <a href=\"https:\/\/www.ons.gov.uk\/economy\/grossdomesticproductgdp\/bulletins\/gdpmonthlyestimateuk\/october2024#the-construction-sector\" target=\"_blank\" rel=\"noopener\">GDP monthly estimate<\/a> for October 2024, highlighting a slowdown in construction growth<\/h2>\n<p>The ONS construction statistics show a decline in monthly output of 0.4% in October 2024 after an increase of 0.1% in September.<\/p>\n<p>This fall was due to repair and maintenance, which fell a whole 1.3%, heavily off-setting growth in sectors like new work, which grew 0.2%.<\/p>\n<h3>Four out of nine sectors saw a decline in October<\/h3>\n<p>At a sector level, private housing repair and maintenance was the main contributor to the monthly decrease, which fell by 3.8%.<\/p>\n<p>The ONS construction statistics also show that, in the three months leading to October, construction output grew by 0.4% compared to the three months to July 2024. Over this period, new work increased by 1.7%, with infrastructure new work being the largest contributor, growing by 3.0%.<\/p>\n<p>Repair and maintenance fell by 1.2% in this period, with the largest declining factor being private housing repair and maintenance falling by 4.0%.<\/p>\n<p>Construction work in October saw new housing take up 20.8% of work, new work took 57.3%, and repair and maintenance took 42.7%, with 20.5% of that being housing repair and maintenance.<\/p>\n<h3>\u201cRespectable rather than riproaring\u201d<\/h3>\n<p>This is all indicative of a slowing growth in the construction industry, especially after the <a href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/new-ons-construction-stats-show-growth-industry-but-concern-future-projects\/146085\/#:~:text=The%20ONS%20construction%20stats%20show%20that%20the%20value,sector%20work%20%28%C2%A32%2C050m%29%20and%20public%20sector%20work%20%28%C2%A33%2C578m%29.\" target=\"_blank\" rel=\"noopener\">record-breaking growth in 2023<\/a>, where new work especially grew by 4.2% overall.<\/p>\n<p>However, there was also a worrying drop in registered firms.<\/p>\n<p>Charlotte Whincup, director of Bloom Building Consultancy, said: \u201cConstruction has held onto its crown as the fastest growing industry in Britain\u2019s shrinking economy, but its grip is loosening.<\/p>\n<p>\u201cIts growth of 0.4% in the three months to the end of October was respectable rather than riproaring, and comfortably above the feeble 0.1% expansion posted by the economy as a whole during the quarter.<\/p>\n<p>\u201cBut today\u2019s official data confirms for the first time how badly things slowed in the weeks leading up to the Budget. Nearly half of the construction industry\u2019s subsectors contracted during October, and output across construction as a whole shrivelled by 0.4% on the month.<\/p>\n<p>\u201cThe data also shows just how divergent the fortunes of different parts of the industry have become. Commercial property is holding its own and demand from infrastructure projects remains strong, but housebuilding saw further declines in output.<\/p>\n<p>\u201cAll this underlines what a mountain the Government has to climb with the planning reforms it hopes will kickstart a flurry of housebuilding across the greenbelt.<\/p>\n<p>\u201cThe high cost of land and planning red tape are only parts of the puzzle, of course &#8211; the high cost of finance is another. If there is one ray of light from Britain\u2019s shrinking economy, it\u2019s that it may strengthen the Bank of England\u2019s resolve to keep trimming interest rates in 2025. Making it cheaper for developers to buy land and build homes will go a long way towards re-energising the battered residential construction sector.\u201d<\/p>\n<div class=\"mk-custom-module-container\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The ONS construction statistics for October 2024 have been released, detailing a slower growth than the previous period.<\/p>\n","protected":false},"author":32,"featured_media":146878,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[908],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-146877","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-planning-construction-news","8":"tag-economy"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>ONS construction statistics show minor decline in output<\/title>\n<meta name=\"description\" content=\"The ONS construction statistics for October 2024 have been released, detailing a slower growth than the previous period\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/ons-construction-statistics-show-minor-decline-output\/146877\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ONS construction statistics show minor decline in output\" \/>\n<meta property=\"og:description\" content=\"The ONS construction statistics for October 2024 have been released, detailing a slower growth than the previous period\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/ons-construction-statistics-show-minor-decline-output\/146877\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building &amp; 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