Section: Building & Regeneration

Warning signs as construction output 'flat-lines'

Posted 11.12.18
Federation of Master Builders: Article link

Rising costs and continued uncertainty over Brexit are to blame for the slight drop in construction output, according to the Federation of Master Builders (FMB).

Commenting on the construction output figures for October 2018, published by the Office for National Statistics, Sarah McMonagle, Director of External Affairs at the FMB, said:

"The UK construction sector is more or less 'flat-lining' with a small decline of 0.2% in October compared with the previous month.

"Rising costs for large and small construction firms are contributing to the slight drop in construction output.

"While wages are continuing to rise because of the ever-worsening skills crisis in our sector, firms are also feeling the pinch because of the rising cost of materials.

The depreciation of sterling following the EU referendum has meant key materials have become more expensive. We are expecting material prices to continue to squeeze the margins of construction firms, with recent research from the FMB showing that almost 90% of builders believe that prices will continue to rise in the next six months."

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