Key Statistics: 28 Oct 2014

Construction

• 36,343 new homes were registered with NHBC in the third quarter of 2014. This was an 8% rise compared to a year earlier and the highest Q3 total seen since 2007. Private housing drove growth, rising by 14% compared to the same period of 2013, while public registrations fell back. The North East, Yorkshire and Humber and the West Midlands saw strong expansions in registrations, while Southern England and London saw more modest growth, including a fall in the South East compared to a year ago. All four home nations saw year on year growth. 

Economy

• UK GDP expanded by 0.7% in Q3 2014, according to preliminary estimates by the ONS. This represents a mild easing in growth from 0.9% seen in Q2, and takes UK GDP to 3% higher than a year earlier. Construction posted growth of 0.8% during the quarter, ahead of services (0.7%) and production (0.5%), though with less than half the total data collected so far, these lower level estimates are likely to be revised.
• UK consumer confidence fell back in October to its lowest since January, according to the YouGov/CEBR Consumer Confidence Index. The month on month fall in the index was the sharpest seen for four years, and appears to reflect concerns over job security and expectations of slower growth over the next year.