Construction slowdown continues as election extends uncertainty

By Bridging Loan Directory 3rd December 2019

Whoever forms the next government must give much needed confidence to the construction industry says the Federation of Master Builders (FMB) in response the construction PMI data published today.

Construction companies have recorded a fall in activity in November for the eighth month in a row.

Jessica Levy, Director of Communications at the FMB said:

“In November, the construction industry weathered the storm of continued Brexit uncertainty, a general election and unusually wet weather. Unsurprisingly, this has led to another fall in output leading to the longest period of decline of new orders in the industry since 2013. While the slightly better results than expected in today’s data are welcome, it is clear the industry is in dire need of some Christmas cheer, once a new government is elected”

Levy added:

“Whoever forms the new government, needs to give some much-needed confidence and certainty to this vital industry which makes up almost 9% of GDP and employs almost 3 million people. House building, which forms a major part of the construction industry, should become a national infrastructure priority for the new government. This will not only help tackle the ongoing housing crisis but give much needed confidence to the industry”