Tuesday, 21 August 2012
The Construction Sector has Shrunk Nearly 10% in the Last Year
On the 10th of August, the Office for National Statistics published a new report showing the construction output figures for the second quarterly period of 2012. Unfortunately the already shrinking building sector has contracted further as the recession continues. Only one sector remained unscathed; non housing repair and maintenance. Thus we at BPM Maintenance have not been hit quite as badly as our competitors, due to our strong relationships with local businesses in the Bath, Bristol and North East Somerset area. We provide as range of commercial and retail maintenance work, that the statistics have shown some growth in; 0.8% year on year.
The Economics Director of the Construction Products Association, Noble Francis, had this to say on the new figures;
‘However, what is most concerning is that private sector activity has also fallen sharply, implying that not just activity but also confidence is sadly lacking.
This situation is rapidly becoming a crisis and at this rate I wouldn't be surprised if manufacturers begin to shut down their operations and lay people off.'
Many experts view growth in the building industry as integral to the economic growth of the country as a whole regaining momentum. The government itself recognises this, but continues to deny the necessary measures to stimulate growth.
The population of the Isles is ever growing, yet the decline in housing repair and maintenance shown in the statistics released may hint that many people are unable to afford professional services and are resorting to DIY to solve plumbing or electrical problems. Many of these maintenance jobs can be more involved and dangerous than they appear. Attempting to re-wire or fix an electrical installation without the necessary training for example, could easily cause further damage or injury.