NFRC News Detail

Construction in dire need of confidence boost says NFRC

by | May 06, 2020

Commenting on the IHS Markit construction PMI data that shows the fastest decline in UK construction output since the survey began 23 years ago, Chief Executive of the NFRC, James Talman, commented saying:

Construction activity has plummeted since the lockdown was announced March, with output now the lowest the industry has seen in recent memory. While sites and manufacturers are starting to re-open, the industry is now plagued by an almost complete lack of confidence of future work

He added

There is small window of opportunity for the Government to act to ensure this economic hit doesn’t become a long-lasting recession. It would be a crying shame for construction to lose otherwise viable businesses and skilled workers, and to have to start rebuilding from scratch. Construction has the highest number of furloughed workers after accommodation and food, and if confidence is not restored soon, we may not see these workers return

He concluded

Government must stimulate demand in the sector not only by investing in infrastructure but also by boosting house building and the domestic repair and maintenance sector which have been the worse hit. Now is also the time to invest in upskilling, to help those out of work to find new skills and ensure that the economy coming out of this, is a highly skilled and productive one

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