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Construction sector lifted by new work

09/03/2010 13:53:09

Good news for the construction sector as official statistics show new work picked up in the last quarter of 2009.

Construction firms are still facing a tough trading environment, but the latest figures from the Office of National Statistics (ONS) provided some reasons for optimism.

Output figures for construction in the fourth quarter of 2009 showed that new work increased by five per cent on the previous three months.

It was still a difficult quarter for the industry, with a drop in repair and maintenance work bringing overall output down and resulting in a contraction of one per cent.

New housing starts fell sharply over the course of 2009, ending up 28 per cent lower than 2008.

However, the fourth quarter showed some signs of recovery, with new housing starts up by 15 per cent compared to quarter three.

Industrial property followed a similar trend. New starts were down by 34 per cent over the year, but up ten per cent quarter-to-quarter.

Construction firms will hope to see more of these positive signs when figures for the first quarter of 2010 are released.

The economy has now returned to growth, which should slowly begin to filter through to new construction orders.

Posted by Kim Bardsley
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