Construction output grows by 5.8%

Construction output in Great Britain: March 2021, new orders and Construction Output Price Indices, January to March 2021: March 2021
Short-term measures of output by the construction industry, contracts awarded for new construction work in Great Britain and a summary of the Construction Output Price Indices (OPIs) in the UK for Quarter 1 (January to March) 2021.

Clive Docwra, Managing Director of property and construction consultancy McBains, said: This is further proof of the construction sector’s continuing resurgence, with order books steadily being filled as confidence returns and the industry recovers from the downturn over the previous year.  March represents the largest monthly growth since July 2020 when output grew by 17.8%.  Private new housing has been a key driver, and a landmark has been reached with output now above pre-pandemic levels.

“One slight reservation is that while new contracts continue to come in, construction firms are being squeezed by soaring prices of imported materials, notably concrete, steel and timber.  With margins already tight, the rising cost of raw materials threaten to negate any profit gains, so many construction firms remain on a knife-edge.

“These increasing costs also serve as a warning sign of global inflationary pressures, which could derail any sustained longer term growth.”

 

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Media contact

Rebecca Morpeth Spayne,
Editor, Showhome Magazine

Tel: +44 (0) 1622 823 922
Email: editor@yourshow-home.com

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