Recent data issued by the Central Statics Office suggests recent media coverage and speculation of a construction boom may be premature. With only a 5.2% increase in residential output expect supply issues to continue to distort the market. Don’t break open the champagne yet. Extract off CSO site to follow. For direct link click here.
CSO statistical release, 11 December 2014, 11am
Production in Building and Construction Index
Building and Construction Output increased by 0.1% in 3rd quarter 2014
The volume of output in building and construction increased by 0.1% in the third quarter of 2014 when compared with the preceding period.
This reflects increases of 5.2% and 0.1% in residential building work and civil engineering respectively while there was a decrease of 1.0% in the volume of non-residential building*. The change in the value of production for all building and construction was +1.3%. See tables 1(a), 1(c), 2(a), 2(b) and graph.
On an annual basis, the volume of output in building and construction increased by 10.1% in the third quarter of 2014*. There was an increase of 11.0% in the value of production in the same period. See table 1(a). The annual rise in the volume of output reflects year-on-year increases of 19.1%, 13.4% and 2.5% respectively in residential building work, civil engineering and non-residential building work. See tables 1(c), 2(a), 2(b) and graph.
*Given the unprecedented low base this series is starting from, the CSO will continue to monitor the quality and comparability of this new data series.
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