THE Federation of Master Builders (FMB) has described the 1.1% growth in UK construction as ‘welcome news’ following the 0.9% fall in construction output in the three months to January 2024.
The trade body was responding to the latest figures released by the Office for National Statistics (ONS).
Brian Berry, chief executive of the FMB, said, “The continued decline in new building work in the three months to January is deeply concerning, with an overall decrease in output for the industry being seen. However, there is positive news for small, local builders, as the figures show positive growth for the repair, maintenance and improvement sector, which increased by 4%.”
Mr Berry added that the construction industry has had a ‘tough time’, adding that the 1.1% increase in growth for January suggests a more promising future for 2024.
“It’s encouraging for small building companies that repair and maintenance work is accounting for much of the positive growth,” he stated. “SME builders have kept the industry going during this tough time and are well placed to boost economic growth if the barriers they face building more homes could be reduced.”
