The Vinden Partnership says construction industry feeling impact of General election and Brexit uncertainty
The latest figures from the Office of National Statistics have revealed that construction output decreased in May.
Construction output fell by 1.2% and also by the same amount on the three-month on three-month comparison.
A lack of new work was cited as one of the main causes of the shrinkage, particularly from the infrastructure sector which fell by 4%.
Peter Vinden, Managing Director of The Vinden Partnership – a leading multi-disciplinary consultant company to the built environment, said: “The ONS figures paint a bit of a gloomy picture for the construction industry but its worth remembering that the General Election caused many clients to put a brake on projects and adopt a wait and see attitude.
“This is only being exacerbated by Brexit uncertainty and it seems unlikely we will see strong growth in the short term.
“We shouldn’t be too pessimistic, however, as there will be plenty of construction activity as the big infrastructure projects move through the gears.
“There has been talk that house builders might be more reluctant to commit to new developments given the stagnating house prices but the demand for affordable homes across the country remains strong.”
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The post Reaction to ONS construction industry output figures for May appeared first on UK Construction Online.
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