Construction output in the United Kingdom grew 3.8 percent year-on-year in October 2018, following a 3.0 percent gain in September and beating market expectations of a 3.2 percent rise. It is the strongest growth in construction output since December, as all new work advanced faster (5.1 percent vs 3.4 percent) amid solid rises in new private housing (10.6 percent vs 10.0 percent) and infrastructure (8.5 percent vs 10.7 percent). Meanwhile, all repair and maintenance rose 1.4 percent, the least since April, compared to a 2.4 percent gain in September. On a monthly basis, construction output fell 0.2 percent, after increasing 1.7 percent in September. Construction Output in the United Kingdom averaged 2.15 percent from 1997 until 2018, reaching an all time high of 24 percent in March of 2002 and a record low of -19.20 percent in January of 2010.
Construction Output in the United Kingdom is expected to be 1.70 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 2.40 in 12 months time. In the long-term, the United Kingdom Construction Output is projected to trend around 2.20 percent in 2020, according to our econometric models.