Construction orders in the UK plunged 45 percent year-on-year in the second quarter of 2020, following a downwardly revised 3.3 percent in the prior month. It was the biggest decline in construction orders on record, amid lockdown restrictions due to the coronavirus pandemic. New housing (-48 percent from 6 percent in Q1), infrastructure (-50 percent vs 56 percent) and new work (-45 percent vs 3 percent) dropped sharply. On a quarterly basis, construction orders slumped 51.1 percent, after rising 10.1 percent in the previous period.
Construction Orders in the United Kingdom averaged -0.55 percent from 1965 until 2020, reaching an all time high of 37.40 percent in the third quarter of 1987 and a record low of -45 percent in the second quarter of 2020. This page provides - United Kingdom Construction Orders- actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom Construction New Orders - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Office for National Statistics
Construction Orders in the United Kingdom is expected to be -6.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Construction Orders in the United Kingdom to stand at 37.00 in 12 months time. In the long-term, the United Kingdom Construction New Orders is projected to trend around 5.00 percent in 2021 and 2.00 percent in 2022, according to our econometric models.