Those in the construction industry across the UK have been enjoying the benefits of an increased workload during the economy’s slow recovery, thanks to various government schemes and record low interest rates. However, records show that in the last month growth has slowed significantly due to Britain’s bad weather. A survey has revealed that the heavy rain and floods have affected house building in particular, which in March grew at its slowest pace for four months.
A number of the purchasing managers who took part in the survey carried out by Reuters admitted that adverse weather has hit house building hard, as work has had to come to a halt, putting construction companies behind schedule and causing a backlog of work. However, civil engineering activity saw its strongest month since April 1977 – likely due to higher spending by local authorities in response to the rain – and despite the blip in construction, the year ahead is looking positive.
As the construction industry only continues to thrive and expand, the pressure is likely to increase for suppliers who must tackle an increase in demand, low stocks and increasing prices. For construction companies who are struggling to source the supplies they need at a reasonable price, job costing must become the focus. Construction accounting software will enable you to carefully review the profitability of each job before you commit to it, and monitor its progress and your budget as you proceed. If you’re interested in gaining some extra job costing support to help you remain efficient and compete in this thriving market, contact the team at Integrity Construction today and we’ll tell you all about the benefits.