ONS Construction Output in Great Britain – Andrew Dixon, Aldermore comments
Commenting on the ONS Construction Output in Great Britain statistics, Andrew Dixon, commercial director specialist finance, Aldermore, said: “Today’s data reveals signs of recovery in the construction sector, with output growing 1.3% in September. However, quarterly construction output fell 1.5% in quarter 3, demonstrating the wide-ranging impact of the supply chain crisis, labour shortages and trade complications due to Brexit. Despite this, the outlook for the sector generally is positive, with recent indicators revealing that business confidence is high and the IHS Markit/CIPS PMI showing that the slowdown in growth has abated slightly, indicating that the worst phase of the supply crunch may have passed.
“If we look to the residential market, the ongoing house price growth shows that consumer demand remains strong and the UK’s ambitious targets to increase housing stock are still a national priority. At Aldermore, we continue to provide a range of specialist finance products to help businesses in the construction sector take advantage of this ongoing opportunity.”