In constant 2005 prices, seasonally adjusted, the total volume of all new construction orders in Great Britain in the fourth quarter of 2012 is estimated to have grown by 3.4 percent compared to the third quarter, and is 11.2 percent higher than the fourth quarter of 2011, according to a report released by the UK's Office for National Statistics (ONS).
The largest quarter-on-quarter increase were seen in private new housing and private commercial other new work, which grew by 10.3 percent and 9.7 percent respectively. However, compared to the previous quarter, infrastructure new work decreased 15.4 percent.
Commenting on the figures, Milja Keijonen, economist at the UK-based Construction Products Association (CPA), said, " Output in construction fell eight percent in 2012 and so the second consecutive quarter of growth in new orders provides some much needed positive news for the industry. New orders in the commercial sector, the largest sector of construction, were 10 percent higher in Q4 than in Q3 and were 14 percent higher than one year ago. Despite this, commercial new orders remain 64 percent lower than the pre-recession peak so it is too early to get excited about a recovery in offices and retail construction."
