According to recent figures from the Office for National Statistics, the output for the UK Construction Industry fell towards the end of last year. ‘Output’ is defined as the amount charged by construction firms to customers for the value of work (produced during the current reporting period) excluding payments to contractors and VAT.
The figures from the first half of 2015 indicated a positive outlook however a drop in output throughout summer and autumn extended into the winter months and resulted in a 1.1% decrease in output, the largest drop since May 2013.
There was an estimated decrease of 0.5% in Construction output in November 2015, compared with October 2015. Housing repair decreased by 0.2% while all new work was the largest contributor to decrease, by 0.7%. Overall figures for the output of the Construction Industry dropped by 1.1% compared to November 2014.