Construction sector activity hits lowest since pandemic

CEO of Alliance Fund, Iain Crawford, commented:

“Although the construction sector has continued to produce a fairly robust level of activity in recent months, the economic complications that we faced for much of 2022 have finally taken their toll with a notable reduction in output recorded in December. 

Of course, it’s important to note that there is almost certainly a seasonal influence at play here too and with many having already implemented contingency plans in anticipation, we should see a more stable outlook emerge in the coming months.”

Jason Ferrando, CEO of easyMoney commented:

“While we can’t ignore the wider economic landscape and the resulting pressures placed on the construction industry, the challenges currently facing the sector haven’t come as a surprise.

The reality is that we’ve been anticipating a tightening economic picture for the last 12 months and have prepared accordingly to ensure that any period of heightened uncertainty is as short lived as possible.

What’s more, we’re already in a better position than we were some six months ago, with the cost of fuel and materials falling. As a result, we’re already seeing a greater commitment from many developers who have sat tight over much of the last year, but now believe the worst is behind us.”