Construction output in the United Kingdom increased by 1.8 percent year-on-year in January 2019, following a 2.4 percent decline in the previous period and compared with market expectations of a 0.3 percent drop. Output rebounded for all new work (1.1 percent vs -2.3 percent in December), namely total new housing (6.0 percent vs -3.2 percent) driven by the public segment (21.4 percent vs 4.6 percent) and the private one (3.6 percent vs -4.6 percent) while it slowed for infrastructure (2.7 percent vs 4.1 percent). In addition, output recovered for all repair and maintenance (3.3 percent vs -2.7 percent). On a monthly basis, construction output rose 2.8 percent, after a 2.8 percent decline and beating market expectations of a 0.9 percent increase. Construction Output in the United Kingdom averaged 2.12 percent from 1997 until 2019, 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 0.20 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 0.50 in 12 months time. In the long-term, the United Kingdom Construction Output is projected to trend around 1.50 percent in 2020, according to our econometric models.