Refurb work edges construction back to slow growthTwo consecutive months of construction output decline ended in September as the industry edged back to slow growth.
The 0.4% recovery was driven by a 2% rise in repair and maintenance, which offset another fall in new work during the month of 0.8%
In the new work sector, the only sector to register growth was commercial, which rose 3% monthly and is now 5% up on a year ago.
Construction starts to shrink by a fifth this yearA fifth less construction work will start on site this year than last, a report has warned.
Industry economists warned that a dip in activity created by the stagnant economy would take more than 24 months to recover from.
Analyst Glenigan said just £60.7bn of new work will get underway in 2023, excluding individual megaprojects that would skew the statistics.
Homebuilding decreases for the 11th successive monthChallenging conditions for UK Construction continued in October.
According to the S&P Global and CIPS UK construction construction purchasing managers’ index (PMI), House building sector declined for the 11th successive month.
This fell to 38.5, which is well below the 50 mark that separates growth from contraction.
Hs2 construction jobs hit record 30,000The number of people in jobs, supporting Hs2’s construction, has hit a record high.
Fresh employment data confirms over 30,000 people are now helping to build the new high speed network linking the UK’s first and second cities.
Employment number grew 455 for the period July – September 2023, taking Hs2’s total workforce 30,204 – the highest figure to date.
Sources:
Refurb work edges construction back to slow growth | Construction Enquirer News
Construction starts to shrink by a fifth this year | Construction News
Homebuilding decreases for 11th successive month | Construction News
HS2 construction jobs hit record 30,000 | Construction Enquirer News
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