Home News Data shows growth in construction output, but house-building remains sluggish

Data shows growth in construction output, but house-building remains sluggish

Following the release of the latest S&P Global UK Construction PMI data, FMB is calling on political parties to place housing ‘at the front and centre of any [election] campaign’, and has stated ‘we will be looking to the new government to provide a boost to the sector

The Federation of Master Builders (FMB) has commented on the latest S&P Global/CIPS UK Construction PMI data for March 2024, which show a fractional rise in overall construction output and the strongest increase in new orders since May 2023.

The FMB says the latest data ‘has provided a positive overall picture of output for the UK Construction industry, with figures showing an increase in total activity for the first time in six months’, but highlights the disappointing housing figures which ‘have seen minimal change’.

Brian Berry, CEO of FMB.

Brian Berry, Chief Executive of the FMB, commented: “These figures show that the growth in construction output has been fractional, and that house building has seen minimal change since February. While the stabilisation in residential housing work represents the sector’s best figures since November 2022, it is clear that there is still much more progress to make. The Government must look at today’s figures and see that there are still plenty of barriers to overcome until we start delivering more homes and achieve the much-coveted aim of sustained economic growth.” 

Berry concluded: “With an election likely just months away, it’s clear that housing should be an issue at the front and centre of any campaign. But construction more generally, which is a key driver for growth needs to be nurtured. Small, local builders are the backbone of the UK economy, delivering new homes and upgrading existing ones, but they have had it tough for some time now – we will be looking to the new government to provide a boost to the sector.” 

www.fmb.org.uk

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