The continued lack of growth across the wider economy and the slight decline in construction output as reported in the ONS Data for July 2024 is a clear sign that the UK economy is still struggling, says the Federation of Master Builders (FMB).
Brian Berry, Chief Executive of the FMB, commented: “It disappointing to see activity in the construction industry contracting, following what had been a promising start to the summer. The 0.4 per cent overall decline, coming from falls in both new work and repair and maintenance, is a worrying sign that challenging times remain ahead for the construction industry, especially with today's announcement showing that the UK economy is flatlining. Improving market conditions play a vital role in boosting confidence, and it is crucial the Government prioritises economic stability.”
Berry concluded: “Following the recent General Election it has been encouraging that the new Government is making house building a key priority. The early announcements setting ambitious housing targets and proposing significant planning reforms are promising. However, the UK is currently experiencing a serious skills crisis which is affecting all sectors. Delivering a long-term skills plan to significantly boost the numbers of construction workers will be key in growing capacity, delivering stability, and making these goals a reality.”
