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Brett News Update

There have been no recorded RIDDOR incidents for the last two quarters, the total number of RIDDOR incidents for the year is one compared to four for the same period in 2021.

The latest Construction Products Association (CPA) forecast for the UK construction sector shows a slight further downgrading of 2022 growth from 2.8% to 2.5% with inflation still the principal downward pressure. The short-term picture hasn’t really changed, the CPA reporting that activity remains robust and above pre-pandemic levels. However, continuing cost increases as well as product and labour shortages are expected to act as a constraint to growth and the general slowdown in the UK economy is a further factor.  UK GDP declined by 0.1% in Q2 2022 and the Bank of England is projecting a recession, which would impact the construction sector should it materialise. The private housing new build and repairs and maintenance sectors are important drivers of our performance.  

We are expecting marginal growth in new build housing sector, however repairs and maintenance is projected to decline by 3-4% this year which is being echoed by the builders’ merchants sector and is reflecting the cost of living pressures everyone is experiencing. Other sectors we supply are expected to show strong growth, in particular infrastructure and commercial, which are forecast to grow by 8.5% and 3.5% respectively in 2022.

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