Beard Construction comments on ONS Construction Output data

Following the release of the latest ONS construction output figures, which shows monthly construction output increased 1.9% in May, we have a comment from Beard Construction.

Fraser Johns, finance director at Beard, said: “While the three-month picture is a little more shaky, we can be really encouraged by a strong upturn in output in May – especially as it was seen across almost all sectors. Although more recent PMI data shows just how volatile the sector is, the news that both private and public new housing is leading this charge will be welcome to the many that rely on this sector. It is a real example of the resilience we continue to see from firms across UK construction.

“Until we see output and new orders increasing consistently month-on-month, we shouldn’t take anything for granted though. With the election now settled, the hope is we can all pick back up and continue to build momentum during the second half of the year. As we see borrowing conditions improve, with a potential base rate cut in the near future, this will certainly enable more clients to push ahead with plans.

“From our perspective at Beard, the construction sector remains really buoyant with our secured orders at a record high. We continue to prioritise close partnerships with both our clients and our supply chain, as well as a clear focus on both our approach to tendering and our cost plans.”

Published: 11 July 2024