Construction firms struggle to build back into growth

BUILDING company bosses fear for the future despite the national drive for a new housing.

- By Mauricio Alencar

The latest survey of construction chiefs suggests the industry has been in decline for eight months running.

S&P Global’s survey of 150 firms also showed business confidence has slumped to its lowest level since December 2022.

Firms pointed to the troubles on payroll budgets as they continued to deal with higher National Insurance contributions following last year’s Budget tax raid.

Bosses also said “intense price competition” was weighing on growth.

The civil engineering subsector was dragged down as a result, according to the data.