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 

Name
Email
  Ctrl + Enter

Most Read

Suttons Tankers wins Yorkshire Water £60m AMP7/8 contract

Suttons Tankers wins Yorkshire Water £60m AMP7/8 contract

The bioresources sludge removal and transport services deal will cover the transportation for all internal liquid sludge and raw sludge cake from sewage works to sludge treatment centres. Over the course of the contract a 15% carbon savings has been forecast, which forms part of Yorkshire

Thames Water invests £55.7m to upgrade Guildford network

Thames Water invests £55.7m to upgrade Guildford network

The announcement comes during the ongoing £1.8m upgrade of Netley Mill water treatment works, which supplies 8,500 properties in Cranleigh and the surrounding villages via Hurtwood, Alderbrook and Lambswood reservoirs. The work will increase the resilience of the site and reduced the risk of

Govt & Ofwat call on water companies to accelerate AMP7/8 plans

Govt & Ofwat call on water companies to accelerate AMP7/8 plans

In an joint letter to UK water companies, the Government, the Environment Agency, the Drinking Water Inspectorate, Ofwat and CCW have called on them to accelerate their existing AMP7 plans – and consider bringing future investment from 2025 and beyond forward.The letter says they can play

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.