Many industries have struggled and continue to struggle during this challenging coronavirus climate, but construction isn’t one of them—and the figures back it up. The Office for National Statistics has recently published figures that show monthly construction figures grew by 17.6% in July 2020.
But that’s not all. These figures follow another inspiring month in June 2020, where construction output grew by a whopping 23.5%
Clive Docwra, the Managing Director of construction consulting and design agency McBains, commented on the new construction output figure:
“Today’s figures will be welcomed by the construction sector as a sign of its continuing recovery,” he said, “but in reality they need to be viewed in the context of an industry that experienced a record 40 per cent drop in output at the height of the lockdown.”
However, he went on to say that construction is still a long way from being “out of the woods” and the construction industry is still extremely fragile in the current climate when there is so much economic uncertainty.
“The big concern for the industry is if there’s a second spike and a further lockdown,” he said. “The government needs to do all it can to ensure the sector maintains its recovery.”
He went on to say that on top of this there is also a potential no deal at the end of the Brexit transition period, which is making investors nervous about committing to new projects.
“The Prime Minister may want the industry to ‘build, build, build’,” said Clive Docwra, “but that’s difficult when many investors are saying ‘wait, wait, wait’ and holding off embarking on new developments until there’s greater clarity.”
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