Key Statistics: 17th July 2012

Glenigan's weekly roundup of keys statistics for the UK construction industry and the wider economy.

Construction

• Construction output during the three months to May was 7.4% down on a year ago. The fall was driven by sharp a decline in government funded work and a drop in infrastructure activity. In particular:
• New social housing output was 23% down on a year ago
• Public non-residential work, including schools, health and law & order projects, declined by 22%
• New infrastructure work fell 21% over the period.
• Private new housing output was relatively stable, being 2% down on a year ago
• Industrial building output fell 4%, while private commercial output was unchanged on the same period of 2011. 

UK Economy

• Manufacturing output volumes during May were 1.2% up on April but 1.7% down on May 2011, according to official data released by the ONS. 
• UK retail sales values were up 1.4% on a like-for-like basis from June 2011 (excluding store openings/ closures), according to the British Retail Consortium. On a total basis, sales were up 3.5%, against a 1.5% rise in June 2011.
• Estate agents responding to the latest housing market survey by the Royal institute of Chartered Surveyors’ (RICS) reported a weakening in house prices during June. A balance of 22% of agents reported a fall in prices during the month, compared to a balance of 17% during May. The RICS reported that London was the only region to see an increase in prices.
• The Halifax recorded a 0.3% fall in house prices during the three months to June, leaving average house prices 0.5% down on a year ago.