November construction output reaches largest growth since March


November construction output increased by 3.5%, reaching the largest monthly rise since March 2021, and the highest construction output since September 2019, as demand for work increases and supply chain pressures ease

Evidence from the Monthly Business Survey for Construction and Allied Trades and the Business Insights and Conditions Survey (BICS) suggested that supply chain issues experienced over recent months had eased somewhat as businesses were able to obtain materials to complete and start projects.

The unseasonal dry and mild weather experienced in November 2021 also helped, as this meant that construction sites did not lose many working days across the month.

The survey also indicated that whilst the prices of construction materials continue to be high, the rate of growth has eased in comparison with previous months.

Jim Beard Skills Solutions Consultant at Nottingham College Business Engagement Team 4d

“Very welcome news from the Construction Sector. The Office for National Statistics, whose latest monthly report on Construction Output and Employment is released today, reports that Monthly construction output in November 2021 was at its highest level since September 2019.

“Most encouraging because of the strong monthly growth, the level of construction output in November 2021 was also 1.3% (£197 million) above the February 2020 pre-pandemic level.

“Anecdotal evidence from the survey returns suggested the strong demand for work, in combination with the easing of some supply chain bottlenecks for certain products and the unseasonal mild and dry weather were the main reasons for the increase. This is great news and solid evidence of a strong finish to 2021 which seems to be carrying forward and will hopefully be sustained in 2022.”

 

Source: pbc today


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