PBC Today quotes David Savage on the latest ONS figures on monthly construction output
The latest ONS figures on monthly construction output saw the first rise of 1.6% in volume term for three months.
Warm weather may be responsible for the uptick in monthly construction output, according to anecdotal evidence from ONS.
David Savage, Partner, comments for PBC Today:
"Following three months of consecutive decline, the construction sector saw a boost in June, reaching the highest level of construction output since records began.
"Although the cost of materials remains high, new work and an increase in repair and maintenance seems to have carried momentum as we head into the summer, instilling a new sense of confidence across the sector.
"Whilst no doubt a positive picture, high interest rates and costs mean that some developers and investors are still delaying new projects, as the industry continues to face challenges due to the wider economic environment."
