ISO 9001 & UKAS Registered, Electron Beam Services in the United Kingdom ISO 9001 & UKAS Registered, Electron Beam Services in the United Kingdom

29/11/16

Construction has fallen to a four year low in the UK, with some pointing the finger at Brexit which has shaken confidence in the building industry to its core.

Latest ONS data shows that construction has fallen 1 per cent in the past quarter, following a trend as building has fallen for a number of years. The data is for the three months following the Brexit.

The value of all repair and maintenance was 3.6 per cent lower than in the second quarter of the year, which was partially offset by an increase in all new work of 0.3 per cent, said the ONS.

Despite this fall, there is some happy news in that it was expected to have by a further 1.4 per cent according to analysts prior to the announcement. The ONS has also not changed its forecast for overall economic growth in the third quarter, of 0.5 per cent.

British construction makes up about 6 per cent of the GDP in total.

The news follows the announcement of a £5billion housebuilding stimulus package, including £3billion for 25,000 homes to tackle the housing shortage that has seen house process rise beyond affordable levels for many people.
Communities secretary Sajid Javid will say that addressing the housing shortfall is a "moral duty" and one "that falls on all of us".

Overall, the outlook was not as poor as many official forecasts suggest, according to Reuters, who suggest the UK economy has coped better with the impact of Brexit uncertainty that was first assumed.

We offer electron beam services to the construction industry, with expertise in electron beam welding.