Annual construction growth hits 5.7% in 2022

Construction enjoyed growth of 5.7% last year despite it dropping slightly in December which most see as the normal seasonal dip.

Across the year, the industry achieved near 6% growth after rebounding in 2021 with a record rise of nearly 13% which has left construction output 3.8% higher than the pre-pandemic level recorded in February 2020.

Government figures also show inflation is starting to slow with the annual rate of construction output price growth in the 12 months to December standing at 9.7%, down from the record level of 10.5% seen last May.

So the feeling in the market is cautious optimism, which is making planning for 2023 a little tricky with the uncertainty of how much the predicted recession will impact overall business growth.

But with costs of materials coming back down and client engagement increasing staffing levels have to be seriously considered and the importance of having a strong agile team is coming to the fore.

The labour market is still tight with highly skilled and intermediate level professionals in high demand. Salaries have been steadily climbing throughout 2022 and the shortage of graduates entering the market due to the Covid period will have an enduring affect in years to come.

Lime Partnership are here to assist you if you have staff issues or if you are seeking a new opportunity. We offer sensible business proposals to help your business grow and recruit individuals who we feel can genuinely solve your business need rather than CV harvest and present you with people who may or may not fit.

So if you have a business requirement for Professional, Technical or Managerial staff please let us know and we will discuss a solution.

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