Output from the UK construction sector fell unexpectedly for a third consecutive month in September, according to official figures released yesterday, though industry bosses remain upbeat.
On an annual measure, output dropped 1.6 per cent in September, the biggest decline for more than two years.
The data from the Office for National Statistics (ONS) showed that construction output dipped 0.2 per cent in September, after a sharp 3.4 per cent decline in August and against expectations for a modest rise.
For the third quarter as a whole, new housing construction slumped 4.3 per cent, its biggest decline in just over three years, reflecting a drop in housing starts in the previous quarter around the time of May’s national election.
On Thursday, the Bank of England’s chief economist Andy Haldane described the UK’s housing market as “broken”, highlighting the long-term lack of construction of new homes particularly by local councils.