May Construction Update from BEIS

The latest Monthly Construction Update from the Department for Business, Energy & Industrial Strategy (BEIS), which uses the Builders Merchant Building Index (BMBI) as one of its sources, is now available.

The latest update shows that Monthly construction output increased by 1.7% in volume terms in March 2022, the fifth consecutive monthly growth and a record high in monthly level terms (£14,994 million) since monthly records began in January 2010.

The increase in monthly construction output in March 2022 was driven by increases seen in both repair and maintenance (3.0%) and new work (1.0%). At the sector level, private housing repair and maintenance and private commercial new work were the main contributors to the monthly increase.

Repair & maintenance activity continues to perform strongly, and has done so since the start of the pandemic. Construction output in March 2022 was 3.7% above the February 2020 pre-pandemic level, with repair and maintenance work was 13.8% (£687 million) up on February 2020.

The annual rate of construction output price growth was 7.3% in the 12 months to March 2022; this was the strongest annual rate since records began in 2014.

Download the latest BEIS Monthly Construction Update here.