UK manufacturers see strong performance
First publishedon www.WorldHighways.com
The UK output of construction equipment and parts has continued on an encouraging upward trend in February. This is according to the latest Office for National Statistics (ONS) data, with the information being released by the Construction Equipment Association (CEA). Output in February was 1.2% higher than January, and 9.7% up on February 2016 levels, which was the weakest month last year. Output levels in February were the highest for nearly two years (since April 2015), and the 6 month moving average has returned to mid-2015 levels.
For the first two months of the year, output is up by 8.8% compared with 2016 levels. This follows on from improving output on a quarterly basis at the end of 2016, when Oct/Dec output was 1.1% above Jul/Sep levels.
The latest output figures are consistent with UK market sentiment for the early months of 2017, which suggest that the improvements seen at the end of 2016 have continued into this year.
ONS output data is based on company turnover collected on a monthly basis. Comparison of this data on an annual basis with Off-Highway Research production data for construction equipment shows very similar year on year % movements. As a result, monitoring of ONS monthly data is judged to be a useful indication of production/activity levels for UK construction equipment and parts.