Are green shoots of recovery emerging?

At last, there is a glimmer of hope on the horizon, with figures from the ONS showing the UK economy having grown 0.2% in January and as well as a fall in inflation in February to 3.4%, bringing further good news for our beleaguered economy.

Construction was thankfully one of the sectors to have experienced an upturn, having fallen an estimated 0.9% in the three months to January 2024.

In January, monthly construction output is estimated to have increased 1.1% in volume terms which came from increases both in new work (1.1%) and repair and maintenance (1.2%).

We still haven’t seen the cut in interest rates that is so eagerly anticipated, but there are definite green shoots of recovery emerging.

Judging by the volume of enquiries we have both for new build projects and buildings requiring survey, investigation, and remediation, I express cautious optimism that recovery will pick up, and we will hopefully see the UK improve in the not-too-distant future.

Remediation continues to be an important component within building construction in the UK, with so many high-risk buildings still requiring urgent attention to remove flammable materials.

Once again, thank you to everyone who joined us for our latest Facade Focus Event on March 21st and I look forward to meeting with clients and industry colleagues again in June.