Key Statistics: 29th October 2013

Construction

• Construction output increased by 2.5% in Q3 2013 compared to Q2 2013, according to preliminary estimates from the ONS. Private commercial and private housing work were key contributors to the increase.
• The number of new home registrations jumped 19% in the third quarter, according to the National House-Building Council. 33,573 new homes were registered over the three months, compared to 28,151 over the same period of 2012.
• The Housing Forum has warned that capacity issues threaten to hold back the Government’s affordable housing programme.  Landlords reported that 25% of contractors on their tender lists were not returning completed bids because of capacity issues, and that prices have risen by 5% outside London and by 10%-20% in London.

Economy

• UK GDP increased by 0.8% in the third quarter compared to the second quarter of 2013, according to the Office for National Statistics preliminary estimate. Output in services grew 0.7% on the previous quarter and is now above its pre-downturn peak. Output in production industries rose by 0.5%, manufacturing output rose but output related to energy supply fell. There was output growth in all four industry groupings, with construction and agriculture also seeing increases.
• Business borrowing rose by £2.5bn in September, according to the British Banking Association. This was the strongest monthly rise seen since 2009 and was attributed to increased demand from wholesalers, retailers and utility companies.
• UK car production in September was 9.9% higher than September 2012. This year to date car manufacturing has increased by 3.9%, driven by strong domestic demand.