New figures from the ONS Construction Output data for May 2024, showing a 1.9 per cent increase in construction output, offer hope for a longer-term recovery, says the Federation of Master Builders (FMB).
Brian Berry, Chief Executive of the FMB, commented: “May’s ONS figures show growth of 1.9 per cent, a substantial improvement on the 1.1 per cent fall seen in April. It is particularly pleasing to see new work up 2.7 per cent, with repair and maintenance also increasing. Data from the end of 2023 had offered hope of improving longer-term conditions, but poor weather in the earlier months of 2024 has seen continued decline. Construction is a key pillar of the overall UK economy, and so this offers wider cause for optimism.
Berry concluded: “Following the General Election, the new Government has an opportunity to capitalise on improving conditions to deliver real change for the industry. It is encouraging that the new Chancellor used her first major speech to make clear that delivering housing and planning reforms will be a priority. However, there are serious questions about how these initiatives will be delivered, due to the ongoing construction skills crisis. The new Government must now set out a long-term plan for how the skills shortage will be addressed.”
