As 2021 starts with a new nationwide lockdown, how will the construction industry be affected?
It’s fair to say that the construction industry faced unprecedented challenges during the first lockdown in 2020 following the onset of the Coronavirus pandemic. It was estimated that during the second quarter of the year construction output in Great Britain fell by nearly 36%. Sadly, as a consequence, not all construction firms who were operating at the beginning of 2020 have made it through to the end of the year.
The good news was when industry re-opened more rapidly than initially anticipated, this brought a breath of life back to the nation’s construction industry. This translated into construction output growing by a record 41.7% – or in cash terms £11,070 million – during the third quarter of the year. This is by far the largest demonstration of growth since quarterly records were introduced at the beginning of 1997 and substantially larger than the previous record quarterly growth of 4.9% in the second quarter of 2010.
Looking ahead industry experts are predicting the construction business is likely to experience a gradual and sustained recovery over the next two years. Although health and safety measures may continue to have an impact on the industry going forward it was heartening to see a widespread closure of construction sites was not required during the second national lockdown towards the end of 2020 and for this current national lockdown at the start of 2021.
The growth in the third quarter of 2020 shows the potential for recovery from any future lockdown and should be an indicator of what to expect when current restrictions are lifted in the spring. Moreover, during this current lockdown the construction industry is still operating albeit not to its full potential. Fenton Plant Machinery is still open for business and looking forward to the expected growth when the current lockdown ends.
At Fenton Plant Machinery we are ready and waiting to play our part in getting the construction industry moving again, whatever used plant machinery you are in the market for, visit Fenton Plant Machinery, or give us a call.