It is the third consecutive year that total construction output has increased 1.5% after peaking at 3% in 1997. Construction accounts for 8% of Britain's GDP.
In the fourth quarter, output by volume increased 1.5% on the previous quarter. It was up 2% by price.
I expect output to grow as a result of increased capital investment
New private housing enjoyed a big gain in 2000 – up 9% to £8.6bn compared with 1999 – despite a slowdown between the third and fourth quarters.
New work in the public housing sector increased 26% to £1.112bn last year but this was against a low base rate of £883m in 1999.