Construction output in the United Kingdom increased by 3.3 percent year-on-year in February 2019, following an upwardly revised 2.2 percent gain in the previous period and above market expectations of a 2.4 percent rise. Output rose faster for all new work (2.6 percent vs 1.2 percent in January), driven by infrastructure (12.6 percent vs 5.4 percent) while total new housing output growth slowed (4.4 percent vs 5.3 percent) due to the public segment (14.7 percent vs 17.2 percent) and the private one (2.8 percent vs 3.4 percent). In addition, output advanced further for all repair and maintenance (4.7 percent vs 4.2 percent). On a monthly basis, construction output rose 0.4 percent, after a 3.5 percent surge in January. Construction Output in the United Kingdom averaged 2.11 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 0.50 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 1.00 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.