Construction recovery activity seems to have slowed again, since August, and seems to be remaining around 11 percent below pre-lockdown levels, according to latest Office for National Statistics figures. The months prior to August, directly following the ease of lockdown restrictions, were immensely better for construction recovery.
Monthly construction output growth was at a record 21.8 percent in June and 17.2 percent in July, compared to the drop to 3 percent output growth in August. During this three-month increase, all new work sectors showed higher output than pre-lockdown, except for private industrial, which fell by 6.5 percent. The largest growth contributor being private new housing, which grew by 34.9 percent.
It is believed that the unpredictability regarding another lockdown or work restrictions are causing private commercial investors to remain cautious and skeptical. Record growth in repair and maintenance sectors is another demonstration of commercial hesitation, with growth being at 35.6 percent during the three-month growth period.
Posted in construction by Jason