New orders for construction in the United Kingdom slumped 6.8 percent year-on-year in the third quarter of 2019, following an upwardly revised 4.8 percent drop in the previous period. Orders for both all other work (-13.6 percent vs -3.6 percent in Q2) and all new work (-6.7 percent vs -4.9 percent) dropped faster. On the other hand, demand for all new housing rebounded (9.4 percent vs -7.4 percent). Construction Orders in the United Kingdom averaged -0.37 percent from 1965 until 2019, reaching an all time high of 37.40 percent in the third quarter of 1987 and a record low of -43.90 percent in the first quarter of 1974. source: Office for National Statistics
Construction Orders in the United Kingdom is expected to be -3.60 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 1.60 in 12 months time. In the long-term, the United Kingdom Construction New Orders is projected to trend around 2.00 percent in 2020, according to our econometric models.