The wider world may feel that construction is enjoying a boom, and it is true that output is at or about record levels. But looking at construction output on a rolling 12-month basis, the industry has been sliding from its peak for the past 18 months. Not that this is a particular cause for concern, as the decline has been shallow and has been mainly down to less visible construction, such as infrastructure and public sector new work. Both have seen more than double-digit percentage falls in output over the past two years.
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