Construction output in the United Kingdom plunged 44 percent year-on-year in April of 2020, following 7.1 percent drop in the previous month and compared to market forecasts of a 36.2 percent fall. It is a record decline in construction output after the country imposed a lockdown from March 23rd due to the coronavirus, forcing many businesses to close. Declines were seen in all subsectors, but the biggest were reported for public new housing (-66.1 percent) and private new housing (-63.6 percent). Repair and maintenance was down 42.8 percent and other new work declined 44.7 percent.
Construction Output in the United Kingdom averaged 1.81 percent from 1997 until 2020, reaching an all time high of 24 percent in March of 2002 and a record low of -44 percent in April of 2020. This page provides the latest reported value for - United Kingdom Construction Output - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Construction Output - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020.
Construction Output in the United Kingdom is expected to be -30.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Construction Output in the United Kingdom to stand at 4.50 in 12 months time. In the long-term, the United Kingdom Construction Output is projected to trend around 5.10 percent in 2021 and 2.50 percent in 2022, according to our econometric models.