Construction output in the United Kingdom went up 3.2 percent year-on-year in March of 2019, the same pace as in the previous month and well below market expectations of a 4.5 percent gain. All repair and maintenance went up at a much slower pace (3.0 percent vs 5.9 percent) due to the public segment (-2.3 percent vs 3.3 percent) and the private one (0.7 percent vs 4.4 percent). On the other hand, all new work output rose faster (3.3 percent vs 1.9 percent) amid an increase in total housing (4.7 percent vs 3.4 percent), led by the public segment (23.7 percent vs 15.3 percent). Infrastructure output also contributed to the increase (15.6 percent vs 13.1 percent). On a monthly basis, construction output fell 1.9 percent, after a 0.5 percent rise in February. 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.