In response to the ONS Construction Output figures for May 2014 Michael Dall, lead economist at construction intelligence specialists, Barbour ABI said:
“While it’s important to remember that monthly construction output can be volatile, there are signs that the growth we’ve become used to over the last six months is beginning to plateau.
“For example, based on our monthly Economic & Construction Market Review, we know that May was the second consecutive month where the total value of construction contracts fell year-on-year.
“Looking ahead, the long-term picture is still one of growth. The Government’s latest construction pipeline published last week, which represents £116 billion of work, should be a huge boost to the industry. Plans of new projects and significant spend in the infrastructure sector will also help to dispel concerns that the industry is becoming too reliant on the housing sector.”