NEW: ONS Construction Output (February 2025): Be cautious using ONS construction output data, as the ONS appears to have been overestimating output since 2022. As the CPA has
frequently highlighted, the problems appear to affect all sectors but are most visible in housing rm&i.

The ONS problems appear for two reasons: ONS appears to underestimate prices, and so overestimates volume when removing price from its value data, and it may have survivor bias in its contractor survey when grossing up to the industry due to a sharp rise in insolvencies over the last two years.

I'm interested in:

• Construction Products Association
• CPA