Looking up: good news for UK construction is good news for the UK Economy

Looking up: good news for UK construction is good news for the UK Economy

22 May 2015

The vital role of UK contractors across all areas of commerce and industry is a real hidden strength of Britain’s post-crash economy. In one sector, in particular, there is genuine reliance on talented freelancers and experience contracting professionals. Boasting over 160,000 self-employed workers, the UK’s construction industry draws in experienced contractors from a huge range of backgrounds and specialisms.

Good news, then, that figures released by the ONS show that the construction industry has rebounded following a sluggish start to 2015. To get a feel for how these projections might play out, we spoke to Umbrella’s Jessica Evans: “The first few months of the year were a little tough for the construction sector: There was a 1.7% fall in new construction work, mostly occurring in January. This kind of drop off can and does impact contractors as opportunities are scaled back.”

“We saw a construction sector that was cutting back work in public and private spheres, from housing to commercial operations. But the construction sector has rallied, showing a robust performance and an ability to get through these fallow periods.”

“Following on from the early downturn of 2015, construction in total has picked up by around 3.9% on a month-by-month basis. Although just behind estimations, this is still good news and a positive trend marker. Private sector house-building and maintenance work has surged forward again, with more new homes being built.”

“The Construction industry is responsible for around 6% of the UK economy, and having an upwardly mobile and positive sector is vital to UK GDP performance. Let’s hope the signs of recovery indicate that brighter times lie ahead for UK Construction and the contractors the industry so clearly relies on.”