Construction output comment
Following the latest ONS construction figures which found a slight decrease in output in February, Fraser Johns, finance director, Beard said: “The February statistics need to be looked at in context. When looking back at a slightly longer-term view, a more positive picture emerges. In the three months to February, construction output grew at its strongest since the summer of 2021.
“The sector has also recovered to the point where output is now above pre-pandemic levels. With the current challenges in the industry, this is an impressive achievement that demonstrates the resilience of the sector.
“The road to recovery is always going to have some bumps along the way, however there were positive signs in February. New orders increased slightly which is a good measure of customer confidence.
“To continue to build on this positive momentum, the sector will need to overcome some hurdles. The skills shortage is still an issue to overcome, and firms should look at hiring practices to improve diversity in the sector.
“Supply chain difficulties are still present and positive supplier relations are crucial to keep the momentum going. At Beard we work closely with our suppliers, ensuring we have constant dialogue to avoid get ahead of potential issues and we pay suppliers promptly to help them avoid cashflow issues.”