Construction industry enjoys signs of growth in Q2

Construction industry enjoys signs of growth in Q2

The construction industry has undoubtedly been one that has been hit badly by the recession and period of economic difficulty in recent years, but it is now showing some signs of improvement. New figures from the Office for National Statistics (ONS) have revealed there was an upturn in construction output in the second quarter of 2013. It noted that there was a 1.4 per cent rise in this area in comparison with Q1, with five per cent growth recorded in the first month of the quarter alone. Although output was slightly down on a year ago, there were areas in which significant expansion was found. For instance, Q2 2013 witnessed a boom in new housing, with public projects up by 9.8 per cent on the same time in 2012, while an 8.2 per cent hike was recorded in the private housing market. Overall, June 2013 was 0.7 per cent quieter in terms of construction output than May, but all new work increased by 0.3 per cent. This was despite a 2.4 per cent fall in the number of repair and maintenance schemes. While the ONS reminded readers that its figures are an estimate at this stage, there are sufficient indications that some prosperity is returning to the construction trade. And if it does, this will be great news for building firms up and down the country. It may even inspire young people to seek a career in the industry, with construction jobs perhaps enjoying a boom in popularity. Of course, those interested should first aim to gain the qualifications they will need to get started. The ONS went on to note that it is sure the latest figures will not have an effect on its predictions for gross domestic product for Q2. With the government's schemes designed to get the housing market moving, this could potentially continue to be a prosperous area for the construction trade in the coming years, should a building drive be on the cards.

Please rate

Comments 

Ctrl + Enter

Most Read

How Blockchain Technology is changing the Energy Sector

How Blockchain Technology is changing the Energy Sector

The disruptive potential of blockchain technology is becoming more evident with every passing day. From the proliferation of cryptocurrencies, and its increasing applications in other areas including banking, gaming, music licensing, as well as the energy sector, blockchain technology is

How to deal with interview rejection

How to deal with interview rejection

Sorry we think you’re not the ideal fit for this position or sorry to inform you, but you are not exactly the candidate we were hoping for – these are some of the replies you may get from an unsuccessful interview, and while it can sting for a day or two, you should not dwell on it any

Mirroring England’s Young World Cup Team in Engineering

Mirroring England’s Young World Cup Team in Engineering

Alas, the cup didn’t come home. However, it's wasn't all doom and gloom as 4th placed England at the just concluded FIFA World Cup in Russia, were not initially expected to perform wonders. However, in the course of the tournament, the belief grew, and hopes were raised. Gareth

This website uses cookies to enhance your user experience. By continuing to use this site, you consent to our use of these cookies. See our Cookie Policy.