The UK construction industry continues to grow.
The construction industry has exceeded GDP growth in March.
According to the latest data release from the Office for National Statistics, UK construction production rose 5.8 percent in March, more than double the country’s GDP growth in the same period.
The figures released yesterday show that GDP grew 2.1 percent in March, which was the fastest monthly growth since last August. However, the construction sector was one of the best performings in the country. In a statement, the ONS said this was driven by new jobs, repairs, and maintenance. The ONS also cited good weather and increased demand as factors. The sector is now 2.4% above its February 2020 level.
According to the ONS, “The construction sector expanded 2.6% in the three months to March 2021. The main contributors to the new works were infrastructure and new private housing, which grew 4.3% and 2.7 percent. In contrast, the main driver in repair and maintenance was non-home repair and maintenance, which grew 3.2 percent.”
As a consequence, said the ONS, “construction growth for January and February 2021 has been revised up to 0.4 percent (an increase of 0.4 percentage points) and 2.3 percent (an increase of 0.7 percentage points) respectively, mainly due to a late survey returns.”
Fraser Johns, Beard’s chief executive, said the construction industry had been through the most significant economic shock since World War II and had not returned to pre-pandemic levels.
He added: “An increase in demand and confidence driven by the launch of the vaccine and a roadmap out of the crisis has played a role. The challenge is to build on that success by ensuring we attract the talented professionals needed to move our industry forward. But in the short term, we also have a major challenge to face in terms of material shortages, which in many areas are on the brink of a crisis. As an industry, we have to find ways to work and plan for the future with supply chains to mitigate any serious delays; otherwise, we are in real danger of undermining our return from ground zero a year ago.”
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