UK construction output rose 0.5% in Q4 2024, despite new orders hitting a six-year low.

UK construction output saw a 0.5% rise in Q4 2024, largely due to an increase in new work, despite a decline in repair and maintenance. The annual output grew by 0.4% in 2024 compared to 2023, marking four years of consecutive growth. However, new orders fell to their lowest level since spring 2020, dropping 2.4% in Q4. Despite challenges like labor shortages and material cost inflation, optimism remains in some industry sectors due to planning reforms and falling interest rates.