The UK’s construction sector grew by 38% in the first quarter of 2017, according to figures collected by business intelligence firm Creditsafe.
Construction is one of 12 industrial sectors tracked by the quarterly Creditsafe Watchdog Report. The latest report shows that total sales across the construction industry reached just over £380bn in Q1 2017, an increase of 38% from Q4 2016 where total sales stood at a little over £275bn.
The report also says that more than 16,000 new companies were established in the sector between January and March 2017. This resulted in a 1% rise in employment numbers, with total jobs across the sector reaching 863,776 in Q1 2017.
Rachel Mainwaring, operations director at Creditsafe, said: “Figures in today’s Creditsafe Watchdog Report are highly optimistic for the construction industry. Business confidence across the sector remains reassuring despite the downturn of Brexit and shows strong indication that the construction industry will continue to build in stability and growth in the next quarter and throughout the year.”
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