Yu, M K W and Ive, G (2011) Orders and output in UK construction statistics: New methodology and old problems. Construction Management and Economics, 29(7), pp. 653-658. ISSN 1466433X
Abstract
The Office for National Statistics in the UK has developed and adopted a new method for collecting and publishing construction statistics. The analysis of the revised construction new orders series and the associated new UK Department for Business, Innovation and Skills (BIS) output price index for all new construction leads to three conclusions: (1) the new indices have corrected two significant methodological errors, namely the underestimation of the number of main contractors and the underestimation of inflation by BIS output price indices for new construction; (2) the new indices addressed a concern, the orders-output 'credibility gap', in the construction output forecasting literature; and (3) care should be taken when using the revised orders series and new output price index for historic research because a 'credibility gap' exists between the two back series prior to 1990.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction new orders; construction output; construction output forecasting; construction output price index; construction statistics |
| Index terms: | construction statistics, forecasting, main contractor, statistics, construction output, methodology, inflation |
| Subjects: | practitioner, mathematical modelling, prediction and forecasting, economic analysis, operations management, research methods, quantitative and statistical methods |
| Topics: | Roles and Professions, Project Management, Research Practice, Business Strategy |
| Descriptive scope: | 3 PTA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here