Economy

House-building drives construction sector

A recovery in house-building helped to fuel growth in the construction industry during December, according to official data.

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A recovery in house-building helped to fuel growth in the construction industry during December, according to official data.

Economy

House-building drives construction sector

A recovery in house-building helped to fuel growth in the construction industry during December, according to official data.

Share this article

A recovery in house-building helped to fuel growth in the construction industry during December, according to official data.

The Office of National Statistics (ONS) said output was two per cent higher having fallen back four per cent during November.

Meanwhile, private sector house-building was up 5.1 per cent in December and 21.6 per cent compared to 12 months before.

In total, output edged ahead 0.2 per cent during the final quarter of the year, the figures showed.

“Construction ended 2013 on a strong note, driven mainly by the surging housing market,” said Robert Wood, chief economist at Berenberg.

“With confidence in the economic recovery building, interest rates still low and house prices booming, 2014 should be another strong year for builders.

“Though the first quarter may well see sizeable disruption from the weather, output will bounce back in when the weather improves as builders make up for lost time.”

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House-building drives construction sector

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