Fall in office and housing activity dents industry output

The dip was attributed to unhealthy climate but additionally highlights ongoing fragile market confidence amid wider financial uncertainties.

This lower in month-to-month output got here solely from a fall in new work (0.7%), whereas restore and upkeep grew by 0.4%.

Fundamental contributors to the month-to-month lower have been non-public business new work, and personal housing new work, which fell by 6.1% and 1.8%, respectively.

Clive Docwra, managing director of property and building consultancy McBains, mentioned: “The trade will likely be involved to see non-public business new work falling so steeply.

“The fear is that long term stagnation within the wider economic system dangers having a continued impression when it comes to investor uncertainty, which can result in additional initiatives being placed on maintain.”

Scott Motley, head of programme, venture and value administration at AECOM, added: “A adverse studying tallies with different trade barometers and confirms the notable slowdown seen because the begin of the yr.

“With the UK’s much-needed infrastructure upgrades on the coronary heart of the federal government’s development technique, the newest raft of bulletins from Whitehall brings cause for optimism for contractors involved by difficult financial situations.

“Certainly, the much-trailed Planning & Infrastructure Invoice is essentially the most important shift in the direction of a correctly supported, long-term infrastructure technique in a technology.

“The Invoice ought to finally facilitate better non-public sector funding – the necessity for which is more likely to come into even sharper focus because the Chancellor doubtlessly eyes up extra cuts to native authority funding forward of the Spring Assertion.”