UK construction falls in rolling quarter
The number of new projects being undertaken by contractors in the UK has fallen by seven per cent in last rolling quarter - February, March, April - in comparison to 2012, new figures have revealed.
According to the latest Glenigan Index, new project starts have fallen in every month so far in 2013 when compared to the same time last year. Industrial sector starts have dropped by 42 per cent, with this area the worst affected by an ongoing drying up of investment.
However, there is hope that the corner could soon be turned in terms of new schemes coming to the market. Construction Index reports growth in education sector developments was one of the highlights of the latest data, with this area improving by 15 per cent year on year.
Glenigan economist Andrew Whiffin told the news provider: "The gains seen in some sectors this month are encouraging signs, especially in light of the poor project starts during the first quarter and official data showing industry output fell six per cent compared to the first quarter of last year. However, it was still another disappointing month overall."
He added that gains in the delivery of new infrastructure could hold the key to recovery, with renewable energy projects in Scotland in particular already helping to push up starts in the utilities index.
The news follows comments from minister of state for business and energy Michael Fallon on last week's Construction Products Association exhibition, which took place in the lobby of the Department of Energy and Climate Change's London headquarters.
It showcased some of the latest building materials and technologies that are available to UK developers.
Mr Fallon said: "Government and industry are working together to challenge outdated perceptions that as a country we don't make anything anymore."
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