The UK construction sector declined at its quickest rate in March in the latest indication of the broader slowdown for the economy.
Office for National Statistics (ONS) identified that the industry contracted by 3.6{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} – the biggest decline since December 2012.
This has also shown that since comparable records began six years ago that the industry has shrunk for three consecutive months.
The figures come amid warnings that uncertainty ahead of the EU referendum is weighing on growth – though some experts think any impact will not have taken effect until the second quarter of 2016.
During the onset of the recession (the latter part of 2008) we witnessed and dealt with numerous construction companies which had become insolvent, in many cases through no fault of their own. It remains a difficult sector within which to navigate a business and therefore if you wish to discuss the potential pitfalls and problems do not hesitate to get in touch for a FREE CONSULTATION.
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