ONS published its latest construction output data but be very cautious using it as the ONS has serious issues that appear to have affected all sectors since 2022 but are most visible in private housing rm&i as previously highlighted in CPA weekly updates and forecast publications.

The ONS problems may be due to two reasons; ONS underestimating price inflation (and so overestimating output volume) plus survivor bias, due to a sharp rise in the number of insolvencies. As a result, ONS appears to have been consistently overestimating construction output since 2022.

I'm interested in:

• Construction Products Association
• CPA