FX.co ★ U.K. Construction Output Shows Marginal Improvement in July 2024

LONDON, 11 September 2024 — The U.K. construction sector recorded a slight uptick in output for July 2024, according to the latest data released by the Office for National Statistics (ONS). The construction output increased to -1.6% year-over-year, marking a minor improvement from the -1.7% figure reported in June 2024.

Although the sector is still experiencing contraction, the reduction in the negative growth rate signifies a modest positive shift. Industry experts suggest that stabilization efforts and policy interventions might be beginning to take effect, providing a glimmer of optimism amidst ongoing economic challenges.

The updated figures reflect a crucial period for the construction industry, offering insights into how the sector is navigating through recent economic hurdles. Stakeholders remain hopeful that this gradual improvement trend could continue, bolstering broader economic recovery efforts across the United Kingdom.