May Construction Update from the Department for Business & Trade

The Office for National Statistics published estimates of construction output for March 2023 this morning.

• Monthly construction output is estimated to have increased 0.2% in volume terms in March 2023; this came from an increase in new work (0.7%), partially offset by a decrease in repair and maintenance (0.6% fall) on the month.
• This followed a growth in construction output of 2.6% in February 2023 (revised up from a 2.4% growth in their previous publication).
• At the sector level, four out of the nine sectors saw a rise in March 2023, with the main contributors to the monthly increase seen in infrastructure new work and public other new work, which increased 2.2% (£51 million) and 6.5% (£48 million), respectively.
• Quarterly construction output increased 0.7% in Quarter 1 (Jan to Mar) 2023 compared with Quarter 4 (Oct to Dec) 2022; the increase came solely from a rise in repair and maintenance (4.9%), as new work saw a decrease of 1.9%.
• Total construction new orders decreased 12.4% (£1,571 million) in Quarter 1 2023 compared with Quarter 4 2022; this quarterly fall came mainly from private commercial and private housing new orders, which fell 22.3% (£773 million) and 18.4% (£607 million), respectively.
• The annual rate of construction output price growth was 8.5% in the 12 months to March 2023; this has slowed slightly from the record annual price growth found in May and June 2022 (10.4%).

Download the latest Monthly Construction update for the Department for Business & Trade here.