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The UK construction sector has seen a 16% rise in new orders, marking the fastest growth in 26 months. Overall output increased by 1% in Q3, thanks to a surge in orders. While November showed a slight dip, the government’s £100 billion investment in infrastructure, including funding for schools and affordable homes, is set to support continued growth. With inflation down and interest rates cut, the outlook is positive, but innovation, especially through digital tech and modern construction methods, will be key to staying resilient in uncertain times. What’s your take on the current trends in the industry? #ConstructionIndustry #ConstructionGrowth #UKConstruction

The construction sector outperformed the overall economy in the UK for the last quarter according to latest Office for National Statistics (ONS) figures. With quarterly output of 0.8%, compared to 0.1% in overall GDP, the positive sentiment in construction continued. This was led mainly by housing repair and maintenance which grew 1.3%. The sector was also encouraged by the government's focus on growth via large infrastructure projects. On the downside, September growth was down to 0.1%, perhaps due to uncertainty ahead of the budget. Worryingly, site labour rates showed inflationary pressures last month according to figures from Hudson Contract with a year on year increase of 4.8%. #construction #economy #inflation

The construction market in the UK is showing signs of recovery and growth in 2024. Recent reports indicate that the sector is poised for a notable improvement, driven by several factors including increased investments and major upcoming projects. The Royal Institution of Chartered Surveyors (RICS) reported a positive outlook in their Q1 2024 Construction Monitor, with a net balance of +24% of respondents anticipating a positive trend in construction activity over the next year. This is a significant improvement from previous quarters, indicating growing optimism within the industry (RICS). According to Glenigan, the UK construction industry is predicted to grow by 12% in 2024 and a further 3% in 2025. This forecast comes after a challenging period marked by economic slowdowns and high interest rates, which had previously stifled growth. The anticipated recovery is supported by an expected increase in project-starts and household spending, as well as business investments (Home of Construction News). Moreover, Currie & Brown's market outlook highlights that despite global economic pressures and uncertainties, adaptable companies focusing on sustainability and labor market shifts are well-positioned to capitalize on new opportunities in the sector (Currie Brown). Overall, while there are still challenges to navigate, the UK construction market is on a path to recovery with promising growth prospects for the near future. #construction #news #positve #recruitment

UK Construction Industry Update: Key Insights for Q3 2024 🏗️ The construction landscape in the UK has seen some intriguing shifts this past quarter. Here's a snapshot of the latest trends and numbers: New Orders Down Significant Drop: Total construction new orders plummeted by 22.0% (£2,722 million) in Q3 2024. The decline was largely due to a sharp fall in private new housing (-31.3%, £861 million) and private commercial new work (-20.8%, £786 million). Price Growth Annual Rate: Construction output prices grew by 2.0% over the 12 months to September 2024, reflecting ongoing inflationary pressures in the industry. Sector Performance Maintenance on the Rise: In September 2024, private housing repair and maintenance surged by 1.3%, making it the primary driver of growth for the month. With projects becoming more expensive and there's fewer of them, is there going to be a strain on the industry in 2025? and with private investment down, is Government investment needed sooner rather than later? Are you noticing a downturn in the number of new projects? Figures from ONS. #ConstructionIndustry #Construction #Procurement

Construction output in the UK experienced a significant rebound in May, marking a crucial turnaround for the industry after three consecutive months of decline. The latest figures revealed a 1.9% increase in activity, with new work driving this growth at 2.7%, while repair and maintenance saw a 0.8% uptick. Notably, both private and public new housing sectors returned to a 2.8% growth rate, with infrastructure new work rising by 3.5%. Despite these positive returns, the sector still requires a boost to regain full momentum. Developers are hopeful that recent government announcements will instil renewed confidence in investors for housing and commercial projects. All eyes are now on economic stability, which every sector within the industry is eagerly anticipating to help construction get back on track. This positive shift has injected much-needed optimism into the construction sector. #growth #construction RGB Recruitment Ltd

Construction industry grows for the first time in 7 months! 📈 The construction industry has shifted from contraction to growth with the S&P Global UK Construction PMI lifting from 49.7 in February to 50.2 in March. The increase highlights strength in the UK economy's recovery. Want to read more 👉 #constructionnews #construction #constructiongrowth #constructionrecruitment

Is the construction industry finally turning a corner? Recent developments suggest a potential recovery is on the horizon. With the new Labour government’s promise to deliver more infrastructure projects and homes, along with the Bank of England’s decision to lower the base interest rate to 5%, the outlook is looking brighter. Positive signs are already emerging: July’s Purchasing Manager’s Index (PMI) for construction hit 55.3, exceeding expectations and indicating market confidence. The latest data from the Office for National Statistics (ONS) also shows a 0.5% growth in construction activity in June. Experts are optimistic, noting increased new business, rising employment levels, and a boost in purchasing activity. These trends could mark the beginning of more stable times for the sector. Share your thoughts in the comments.

The UK construction sector continues to navigate a complex landscape. While the overall output declined in Q2 2024, there are underlying trends pointing towards a potential upturn. ▪ Short-term pain, long-term gain: The sector is experiencing a temporary slowdown, but the pace of decline is easing. ▪ Repair and maintenance: This segment remains resilient and is driving growth. ▪ Public sector challenges: Budget constraints are impacting new project starts, but utility and infrastructure work are providing some stability. ▪ Commercial development: Facing headwinds due to higher costs and planning delays. ▪Residential market: A mixed picture, with smaller builders showing signs of improvement, while large developers focus on social housing. Looking Ahead, industry sentiment is improving, with expectations of higher output towards the end of the year. The potential easing of interest rates and stabilizing costs could further boost confidence. The construction sector is clearly undergoing a transformation. A focus on repair and maintenance, coupled with a potential uptick in new projects, could position the industry for a stronger second half of the year. However, addressing the ongoing challenges of labor shortages and material costs will be crucial for sustained growth. #construction #ukeconomy #constructionindustry #economicoutlook

The UK construction industry is navigating a tough yet transformative time. With interest rates easing and supply chains stabilising, there's potential for growth in late 2024. But challenges like insolvencies, labour shortages, and changing priorities are still very much in play. How do you see the industry evolving? #ConstructionIndustry #UKConstruction #IndustryInsights