Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
Yesterday’s announcement that GDP growth has been held back to just 0.5% shows the parlous state of construction which is holding back the economy says builders organisation the Federation of Master Builders.
The ONS figures showed that construction activity fell by 4.7%, something which construction industry commentators say come as no surprise.
Brian Berry director of external affairs at the FMB said: “Unfortunately, the figures do not come as any surprise to the FMB as the SME construction sector is now in its fourth year of falling workloads with little hope of recovery in the immediate future.
“If the Government is serious about creating new jobs in the private sector it will have to do more to reverse the worrying decline in construction. This is the sharpest decline in construction activity since the first quarter of 2009, which is bad news for the Government’s growth agenda.”
“The Government needs to recognise that every £1 spent on construction generates £2.84 in total economic activity. It’s a false economy not to invest in our future and create the conditions for growth because without a vibrant construction industry the UK won’t have the infrastructure that it needs to compete in a global economy.”
