In response to the ONS Construction Output figures for June and Q2 2014, Michael Dall, lead economist at construction intelligence specialist, Barbour ABI, comments:
“While it’s disappointing that output in the construction industry was flat over the last quarter, mainly due to a poor month in May, it confirms what many people have been expecting – that the rate of growth we’ve become used to over the last twelve months is beginning to plateau.
“In particular, while housing is continuing to drive the industry’s recovery, growth in the commercial sector has been lower and infrastructure is actually declining over the longer term. Looking ahead, the long-term picture is still optimistic with continued growth in residential expected to sustain the industry.
“With year-on-year increases in both construction output and contracts awarded, as seen in Barbour ABI’s latest Economic & Construction Market Review, we are confident that the industry is continuing to grow. However, other key sectors will also need to improve if the industry is to surpass its pre-recession size sooner rather than later.”