Comment: ONS Construction output – “Encouraging in an increasingly challenging economy”
“It is encouraging to see two consecutive months of growth during July and August – however small – in an increasingly challenging economy.
“The fact that the growth came from an increase in new work is a reminder that developers still have the confidence to commit to new schemes. This growth is sustainable if the sector continues to price jobs fairly and accurately, building in price fluctuations where necessary, rather than passing the risk down the supply chain.
“However, these positive trends could well be interrupted by the current volatility and uncertainty overhanging the wider UK economy.
“Material inflation seems to be calming down compared to earlier in the year but the rising cost of energy remains a concern.”
Fraser Johns, finance director, Beard Construction