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Fall In Construction And Housing Output Undermining Economic Growth, Says FMB

The continuing fall in construction output, accelerated by the decline in house building according to November’s S&P Global/CIPS UK Construction PMI data, demonstrates the sorry state of the economy, and the need for government measures to turbo charge economic growth, says the Federation of Master Builders (FMB).

Brian Berry, Chief Executive of the FMB said: “Today’s S&P Global/CIPS UK Construction PMI figures mark a full year of continued decline in house building rates in Britain.

“The civil engineering and commercial sectors are now beginning to show weakness, and with employment rates also decreasing for the first time in ten months, there are worrying signs for the future of the construction industry.

“If we do not see significant government intervention to substantially boost the UK’s house building rates and ensure that people have access to the high-quality homes they require, this decline is likely to continue.

“The positive measures announced in last month’s Autumn Statement, such as the proposals to speed up planning decisions, and to provide tax cuts to small businesses, indicate an acknowledgment from the Government that action is needed. But these proposals alone do not go anywhere near far enough.

“A wide-reaching, industry specific plan will be necessary to support local house builders to ensure that they can deliver the scale of housing that Britain is currently in desperate need of.”

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