Construction output in the United Kingdom grew 3.0 percent year-on-year in November 2018, following an upwardly revised 4.1 percent rise in October and compared with market expectations of a 2.5 percent gain. Output increased less for all new work (4.5% vs 5.4% in October) amid softer rises in total housing (8.2% vs 10.2%), led by the public segment (1.1% vs 8.9%) and infrastructure (11.2% vs 12.9%). In addition, activity shrank in other new work from public (-4.5% vs 1.5%) and private commercial (-1.8% vs -2.7%) while rebounded for private industrial (2.3% vs -6.3%). Also, all repair and maintenance went up at a much slower pace (0.2% vs 1.7%). On a monthly basis, construction output rose 0.6 percent, after showing no growth in October and beating market consensus of a 0.2 percent gain. Construction Output in the United Kingdom averaged 2.13 percent from 1997 until 2018, 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 2.20 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 2.30 in 12 months time. In the long-term, the United Kingdom Construction Output is projected to trend around 2.20 percent in 2020, according to our econometric models.