Plans to build 300 social homes, an upgrade to the London Underground and support for economic development in the northeast are among public sector projects worth £1 billion put on hold because of Brexit.
“Scottish firms are facing considerable constraints through the growing scarcity of skilled tradespeople. When you pile on material prices increases, following the EU referendum, there is considerable upwards [cost] pressure on small building firms and it’s taking its toll on growth.”
The headline reading on the Markit/CIPS UK construction PMI report fell to 48.1 last month from 51.1 in August. That places the industry below the 50-point mark separating growth from contraction and misses a forecast of 51 by economists in a Reuters poll.
Official figures show fourth straight month of contraction in construction sector. Output declined by 0.9 per cent in July, compared with the previous month. Analysts were expecting the industry, which accounts for about 7 per cent of UK national income, to contract by 0.2 per cent.
Uncertainty over the UK-EU relationship has raised concerns that important funding from the European Investment Bank (EIB) could stall, Community Housing Cymru (CHC) has said. The EIB awards low cost, long-term loans for projects in various sectors.
Nearly half of Enterprise Ireland-supported construction firms have reduced their exposure to the UK in advance of Brexit, with some 70 per cent said to be eyeing up opportunities in mainland Europe, a new survey has found.
Output in the UK’s construction sector fell 1.3% in the three months to June, after a 1.1% rise in the first quarter, the Office for National Statistics (ONS) has revealed. The 3 month on 3 month decrease was driven by a 1.3% drop in new work and a 1.4% fall in repair and maintenance, the fourth consecutive...
Almost 330,000 UK firms were suffering “significant” distress. Begbies said it was the largest number in at least five years, having grown 25% in the past year. It pointed to particular trouble for property and construction companies, which it said was further evidence of a cooling housing market. Smaller businesses bore the brunt of the...