United Kingdom Construction Output

Construction output in the UK increased 6.8 percent year-on-year in November of 2021, after an upwardly revised 4.3 percent rise in the previous month and well above forecasts of a 2.9 percent gain. Faster increases were seen in all new work (7.7 percent vs 4.7 percent in October) and repair and maintenance (5.4 percent vs 3.7 percent). Also, output rebounded for new housing (1.7 percent vs -2.6 percent). Monthly construction output increased by 3.5 percent in November, the largest monthly rise seen in construction output growth since March 2021, exceeding market estimates of a 0.5 percent rise. The strong demand for work, in combination with supply chain bottlenecks for certain products easing and the unseasonal mild and dry weather were the main reasons for the increase.