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The 0.4% uplift came from modest increases in both new work and repair and maintenance, with public new work leading growth while private housing and industrial acted as a drag.<\/p>\n
Latest Government ONS trend figures for construction over three months reveal an industry in stagnation, recording no net growth overall.<\/p>\n
Industry watchers now fear that rising economic uncertainty caused by president Trump\u2019s tariffs will unleash further downward pressure on a weak market as property investors put the brakes on planned schemes amid market turmoil.<\/p>\n
\nClive Docwra, managing director of property and construction consultancy McBains, said: \u201cAfter two successive monthly falls in output, the industry will breathe a sigh of relief at today\u2019s figures.<\/p>\n
\u201cHowever, growth remains sluggish both over the short and medium term and some sectors remain low in terms of new contracts. There will be some concerns that private commercial new work and private housing new work fell by 0.5% and 0.4% respectively.<\/p>\n
\u201cThe big worry at present is that investors\u2019 confidence has been rocked by Trump\u2019s tariffs and the resulting trade war, which has dented their investment portfolios.<\/p>\n
\u201cAlthough there\u2019s no panic, it means many are taking a wait-and-see approach, so riding out the storm will inevitability have an impact on a number of projects being given the green light.<\/p>\n
\u201cContractors sourcing materials from abroad may also face higher prices, as manufacturers look to pass on costs as a result of being hit by increased tariffs.<\/p>\n
\u201cThe only predictable thing about this is that Trump is unpredictable, and so the outlook could change very suddenly, but a cut in interest rates would provide some comfort at this uncertain time.\u201d<\/p>\n
Scott Motley, head of programme, project and cost management at AECOM: \u201cAfter the government reaffirmed its commitment to the sector and vowed to increase capital spending on key areas including housing and defence last month, contractors can be relatively positive about the long-term pipeline of work.<\/p>\n
\u201cBut firms will no doubt be keeping a close eye on shifting markets and how that may impact demand and investment in the short-term.<\/p>\n
\u201cAs such, the construction sector strikes a note of cautious optimism, as contractors continue to avoid overreaching themselves through taking on too much new work.\u201d<\/p>\n<\/p><\/div>\n