UK Construction Activity Continued to Decline Through Q3
Construction activity data paints ‘picture of general decline’
According to the latest quarterly assessment from Glenigan, a provider of UK and the Republic of Ireland construction project sales leads, market analysis, forecasting, and company intelligence, UK construction continues to be “battered by economic headwinds and sudden, ad hoc policy changes.”
The data comes from Glenigan’s latest Construction Review covering Q3. The data show UK starts on site were down 40% year-over-year and were 9% below Q2.
Glenigan also found that there was also a decline in main contract awards, which dropped by 27% versus Q2 and 12% versus 2022Q3. When compared to Q2, residential project starts were down 10% and industrial projects starts had declined 38%.
Commenting on the report, Glenigan Economic Director Allan Wilen said:
“Starts on site continue to soften and, as economic and political disruption continues, we’ll likely see clients and contractors continue to adopt a cautious approach to start dates until the landscape looks a little less hostile.”
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