Discover and read the best of Twitter Threads about #ukconstruction
Most recents (17)
A long thread on the initial direct & indirect impacts of the chaos in the markets over the past week on UK house building & construction ...
#ukconstruction #construction #ukhousing #housing
#ukconstruction #construction #ukhousing #housing
It's clearly early days into the government-made chaos in the financial markets but there are some impacts for the UK construction industry that we can identify (albeit quantifying them is a much greater issue)...
#ukconstruction #construction #ukhousing #housing
#ukconstruction #construction #ukhousing #housing
Firstly, Sterling depreciations mean further rises in construction materials prices, which in July 2022 were already 24% higher than a year ago. Sterling has depreciated 12% since the end of July &...
#ukconstruction #construction #ukhousing #housing
#ukconstruction #construction #ukhousing #housing
A further rise in UK construction materials prices as expected as the spikes in energy costs & commodity prices continue to feed through after the Ukraine invasion. Materials prices in April 2022 were 25.2% higher than a year ago according to BEIS...
#ukconstruction #construction
#ukconstruction #construction
... & the 25.2% annual increase in UK construction materials prices in April 2022 compares with 24.5% in March & the recent peak of 23.7% in October 2021 (when there were materials availability issues) & it is worth noting that, firstly,...
#ukconstruction #construction
#ukconstruction #construction
... materials prices in April 2022 were not only 25.2% higher than a year ago but prices are now 38.4% higher than in January 2020, pre-pandemic, which affects contractors on fixed-price contracts signed up to over the last few years, secondly...
#ukconstruction #construction
#ukconstruction #construction
Lee Rowley is the new Construction Minister, making him the 9th Construction Minister in the last 5 years and the UK currently averages 1 construction minister every 7 months...
#ukconstruction #construction
#ukconstruction #construction
... Looking over the longer-term, Lee Rowley is also the 20th Construction Minister in the last 20 years, averaging 1 every 13 months. The lack of stability in the position is a long-term problem but it has clearly got worse in the last 5 years...
#ukconstruction #construction
#ukconstruction #construction
... Unfortunately, government views the Construction Minister position as a 'stepping stone' position whereby, if you succeed then you get promoted to a higher-profile position or if you fail you get relegated (back) to the backbenches....
#ukconstruction #construction
#ukconstruction #construction
According to the ONS, construction output fell 1.6% in July 2021. It has fallen for 4 consecutive months & is 2.5% lower than in January 2020 although note the ONS appears to have issues estimating private housing output...
#ukconstruction #construction
ons.gov.uk/businessindust…
#ukconstruction #construction
ons.gov.uk/businessindust…
Looking across the sectors, the main contributors to the 1.6% fall in total construction output in July were private housing (-7.5%) & private housing repair, maintenance & improvement (rm&i) whilst the largest rise was in industrial (warehouses)...
#ukconstruction #construction
#ukconstruction #construction
Looking at the evolution of construction output in the key sectors since Covid-19, infrastructure continues to go from strength to strength whilst industrial is rising sharply from a low base as warehouse projects are finally coming through &...
#ukconstruction #construction
#ukconstruction #construction
Construction output in April 2021 was 2.0% lower than March's recent peak (that was above pre-Covid-19 levels). Comparisons with a year ago are irrelevant given April 2020 was the nadir during the initial lockdown but...
#ukconstruction #construction
ons.gov.uk/businessindust…
#ukconstruction #construction
ons.gov.uk/businessindust…
... as a more appropriate reference point construction output in April 2021 was 0.4% lower than in January 2020, pre-Covid-19 so it remains a 'V'-shaped recovery for construction output so far compared with a 'W'-shaped recovery for UK GDP...
#ukconstruction #construction
#ukconstruction #construction
Looking how the key sectors have evolved since January 2020, pre-Covid-19, there remains a distinct difference between the sectors in which activity is considerably higher than pre-Covid-19 (private housing rm&i & infrastructure), in contrast to...
#ukconstruction #construction
#ukconstruction #construction
UK construction products imports volumes from the EU in 2021 Q1 fell by 16.1% compared to 2020 Q4 & were 0.8% higher than a year ago whilst construction products exports to the EU in 2021 Q1 were 48.6% lower than in Q4 & 28.7% lower than a year ago BUT...
#ukconstruction #brexit
#ukconstruction #brexit
... note some very important caveats. These are inappropriate reference points given that 2020 Q4 was distorted (artificially high) due to stockpiling & 2020 Q1 was distorted (artificially low) due to an impact from initial lockdowns...
#ukconstruction #brexit
#ukconstruction #brexit
... A more appropriate reference point would be to compare with the average of 2016-18, prior to any Brexit deadlines in 2019 & 2020. Given the stockpiling in 2020 Q4, it is also worth while using the average of Q4 & 2021 Q1...
#ukconstruction #brexit
#ukconstruction #brexit
UK construction employed 2.16 million people in 2021 Q1, which is 14,817 (0.7%) higher than in Q4 but it is still 154,429 (6.7%) lower than in 2019 Q4, pre-Covid-19 & 270,782 (11.2%) lower than the recent peak in 2019 Q1...
#ukconstruction #construction
ons.gov.uk/employmentandl…
#ukconstruction #construction
ons.gov.uk/employmentandl…
... & interestingly, male construction employment continued to fall in 2021 Q1 (by 10,717 vs Q4 & 180,237 vs 2019 Q4, pre-Covid-19) & this was offset by a rise in female employment in 2021 Q1 of 25,534 (9.0%) vs Q4 & 25,808 (9.1%) vs 2019 Q4...
#ukconstruction #gender
#ukconstruction #gender
... which, on the plus side means that UK construction employment in 2021 Q1 had its highest proportion of females on record (albeit still a low proportion compared with the population). However...
#ukconstruction #construction #gender
#ukconstruction #construction #gender
THREAD: Construction output in March 2021 was 5.8% higher than in rain-affected February & 6.0% higher than in March 2020 according to the ONS. Output was also higher than pre-Covid-19 & at its highest level since September 2019...
#ukconstruction
ons.gov.uk/businessindust…
#ukconstruction
ons.gov.uk/businessindust…
... On a monthly basis, construction output in March 2021 was 5.8% higher than rain-affected February with increases in almost every construction sector & the largest rises public housing (+16.7%), private housing (+9.4%) & private housing rm&i (+7.7%) whilst...
#ukconstruction
#ukconstruction
... on an annual basis, construction output in March 2021 was 6.0% higher than a year earlier although it is worth noting that construction output from 23 March 2020 was affected by the social distancing restrictions during the initial lockdown...
#ukconstruction #construction
#ukconstruction #construction
THREAD: It is broadly a 'V'-shaped recovery for the construction industry overall so far... Construction output in February 2021 was 1.6% higher than in January 2021.
#ukconstruction #construction
ons.gov.uk/businessindust…
#ukconstruction #construction
ons.gov.uk/businessindust…
Construction output in February 2021 rose by 1.6% compared with January as activity picked up after the usual Winter slowdown but growth was affected by persistent rain affecting outdoor site activity so expect significant growth in March as well.
#ukconstruction #construction
#ukconstruction #construction
Construction output in February 2021 remained 4.3% lower than one year ago (February 2020, the last month before the initial lockdown). Overall, it has broadly been a 'V'-shaped construction recovery but fortunes vary considerably by construction sector.
#ukconstruction
#ukconstruction
'V'-shape recovery for construction so far. Construction output in January 2021 was 0.9% higher than in December 2020 & 3.0% lower than one year earlier (pre-Covid-19) according to @ONS...
#ukconstruction #construction
ons.gov.uk/businessindust…
#ukconstruction #construction
ons.gov.uk/businessindust…
... The 0.9% monthly rise in construction activity during January 2021 (was after a 2.9% fall in December &) was mainly driven by growth in public housing repair, maintenance & improvement (cladding remediation), commercial & infrastructure...
#ukconstruction #construction
#ukconstruction #construction
... & construction output in January 2021 remained 3.0% lower than a year earlier despite activity in repair, maintenance & improvement activity & infrastructure activity that is already above pre-Covid-19 levels already because...
#ukconstruction #construction
#ukconstruction #construction
In case anyone is interested, a few slides from my Construction & Brexit update presentation this week...
#ukconstruction
#ukconstruction
Only 24% of construction products used in UK construction are imported but of those 61% come from the EU & it is not just about the imported products but also the imported materials & components used in UK manufactured construction products...
#ukconstruction
#ukconstruction
The key construction products that are likely to affected by a 'No Deal' would be products in which demand already exceeds supply due to the sharp recovery in housing new build & refurb after the first lockdown; timber, roofing products & white goods...
#ukconstruction
#ukconstruction
Construction output in October 2020 was 1.0% higher than in September but still remained 7.5% lower than a year ago. However, it is worth noting that there were considerable differences across the different construction sectors...
#ukconstruction
ons.gov.uk/businessindust…
#ukconstruction
ons.gov.uk/businessindust…
...& how construction firms have experienced recession & recovery depends on the sector(s) they work in. Looking at the key sectors, infrastructure was the least affected in the initial lockdown & activity is effectively back at pre-Covid-19 levels whilst...
#ukconstruction
#ukconstruction
... private housing new build & rm&i were the worst affected sectors in the initial lockdown but activity recovered from mid-May. Private housing rm&i activity was back at pre-Covid-19 levels in October & private housing new build output was 4.5% lower...
#ukconstruction
#ukconstruction
Total construction output in September 2020 was 2.9% higher than in August but still remained 10.0% lower than a year earlier but there were considerable differences across the different construction sectors...
#ukconstruction
ons.gov.uk/businessindust…
#ukconstruction
ons.gov.uk/businessindust…
... & on a quarterly basis, total construction output 2020 Q3 was unsurprisingly 41.7% higher than in (Lockdown 1-affected) Q2 but it remained 12.6% lower than a year earlier...
#ukconstruction
#ukconstruction
... & note that whilst output in Q3 was 12.6% lower than a year ago, ONS employment data earlier this week shows construction employment in Q3 was 'only' 7.4% lower than a year earlier but hours worked in construction in Q3 were 17.1% lower than a year earlier...
#ukconstruction
#ukconstruction
In spite of the recovery in UK construction activity since social distancing restrictions eased, construction has lost 142,000 jobs since 2019 Q4, pre-Covid-19, & lost 258,035 jobs since the recent peak of 2019 Q1 according to @ONS.
#ukconstruction
ons.gov.uk/employmentandl…
#ukconstruction
ons.gov.uk/employmentandl…
UK Construction employment in 2020 Q3 was 7% lower than a year earlier & 11% lower than the recent peak of 2019 Q1, which is broadly in line with activity overall in construction overall at the end of September...
#ukconstruction
#ukconstruction
... given that UK construction demand overall has not returned to pre-Covid-19 levels (although it clearly has in some sectors e.g. infrastructure, housing new build & refurb) combined with fewer trades on site simultaneously due to social distancing especially...
#ukconstruction
#ukconstruction
A thread on the latest CPA construction forecasts & 'No Deal' scenario (I'll summarise the results initially and then provide background/context)...
#ukconstruction #ukhousing #Brexit #NoDeal
#ukconstruction #ukhousing #Brexit #NoDeal
The CPA is forecasting that construction output will fall marginally (-0.3%) in 2019 & grow by 1.0% in 2020 assuming a smooth Brexit (either the Withdrawal Agreement with a fudge on the backstop or another delay to Article 50)...
#ukconstruction
#ukconstruction
... but construction activity is mixed by region & sector. Infrastructure, housing (North West, Yorkshire & Midlands) & industrial warehouses growth offsets falls in commercial, industrial factories & housing (London, South East & parts of the East)...
#ukconstruction #ukhousing
#ukconstruction #ukhousing
A 'No Deal' Brexit would pose major problems for the UK construction industry in the short-term & long-term. A brief thread...
#ukhousing #ukconstruction #NoDeal #NoDealBrexit
#ukhousing #ukconstruction #NoDeal #NoDealBrexit
There are skills issues in UK construction. In 2018 Q3, 82% of contractors reported difficulties recruiting carpenters & joiners, 78% reported difficulties recruiting bricklayers & 63% reported difficulties recruiting plasterers.
#ukhousing #ukconstruction #NoDeal #NoDealBrexit
#ukhousing #ukconstruction #NoDeal #NoDealBrexit
In 2018 Q3, 70% of main contractors reported difficulties recruiting roofers, 63% reported difficulties recruiting plumbers & half of main contractors reported difficulties recruiting painters & decorators.
#ukhousing #ukconstruction #NoDeal #NoDealBrexit
#ukhousing #ukconstruction #NoDeal #NoDealBrexit
For all the recent talk of Interserve, their problems are not just recent ones. Their decline has been clear for four years. Their share price yesterday was 94.7% lower than at peak (in March 2014)...
#ukconstruction #outsourcing #interserve
#ukconstruction #outsourcing #interserve
... & 83% of their invoices are not even paid within the agreed payment terms. It's not merely a company-specific issue, the government outsourcing model is fundamentally flawed as we also saw with Carillion...
#ukconstruction #outsourcing #interserve
#ukconstruction #outsourcing #interserve
... that involves Winner's Curse (desperation to (continue to) win contracts means winning them at low or negative margins & also poor acquisitions & expansions into new sectors without the knowledge in those areas...
#ukconstruction #outsourcing #interserve
#ukconstruction #outsourcing #interserve
