Richard Threlfall, UK Head of Infrastructure, Building and Construction, comments on today’s ONS construction output data:
“While the sun has at least started to shine in the UK recently, the beleaguered UK construction industry remains under one miserable cloud. The only part of the industry looking forward to the summer are house builders, where new construction is being driven by market demand in London and the south-east and by the Government’s Help to Buy scheme elsewhere.
“However, there is a ray of light. Insolvencies in the last two quarters have fallen to levels last seen in 2007, and there is a growing confidence in the industry that work will start to pick up again, albeit slowly over the next few years.
“There is lot to be done to reverse the damage to the industry. With output at levels last seen in 1998, the industry’s value has been reduced to what it was 15 years ago. What a tragedy.”
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