LONDON--(BUSINESS WIRE)--Linesight, a global construction consultancy firm, today announced the latest update to its Knowledge Centre, its annual construction industry resource with key data, trends, indices and analyses across multiple regions and sectors. This comprehensive view of the industry’s current challenges and outlook features expert insights in major markets including commercial, data centres, life sciences, retail, residential and hospitality.
“The release of the September 2020 edition of our Knowledge Center for the UK is an essential look into the wide-ranging impact of COVID-19 on the construction industry,” said Michael Riordan, Linesight’s Managing Director UK. “2020 continues to be a challenging year for many sectors with overall construction output dropping by 38.8% since February 2020. Some sectors, such as commercial and hospitality, have been hit hard by the pandemic-induced economic shock, while others, such as life sciences and data centres, are experiencing more buoyant growth at this time. It remains to be seen what the more medium to long-term impact will be, but with Brexit looming, the pace of recovery will be dependent on its successful implementation.”
Highlights from the latest UK edition of the Knowledge Centre include:
- Since Q1 2020, construction productivity has reached an estimated 80 percent of pre-COVID levels
- With GDP contracting by 2.2 percent in Q1 2020 and 20.4 percent in Q2, the UK has seen the steepest decline on record, and as announced on 12th August, has entered a recession for the first time since 2009.
- The overall construction output since February 2020 before the impact of COVID-19 has dropped 38.8 percent.
- There was a combined decline of 44.5 percent between January and April 2020 in construction output, according to the Official for National Statistics. Since May however all sectors experienced an increase in output with the exception of public housing repair and maintenance, which fell 9.5 percent, and public other “new work,” which fell 2.7 percent.
- The strongest growth sectors appear to be private new housing, which boasted a 21.4 percent rise, and infrastructure, which saw a 12.7 percent increase.
For in-depth analysis and data in key construction markets, please see the latest update to the Knowledge Center at https://www.linesight.com/en-gb/reports/uk-2020.
Linesight is a multinational construction consultancy firm with over 45 years' experience, providing cost, program, project and general consultancy services to the construction industry. Linesight works with Tier One clients across a multitude of sectors including Residential, Commercial, Data Centres, Life Sciences, High-Tech Industrial, Hospitality, Healthcare and Retail. Linesight’s specialist project teams, each with specific skills and experience, provide faster project delivery, greater cost efficiency and maximum value for money for their clients. For further information, please visit http://www.linesight.com.