New data shows outstanding construction industry growth

The construction sector experienced rapid growth of 10% between 2016 and 2018.

New government data analysis conducted by Love Energy Savings has revealed that the construction sector has seen a whopping 10% growth between 2016 and 2018. 

In 2016, there were 300,000 construction businesses in the UK, rising to 330,000 by 2018. 

Along with this rapid increase, construction was also found to own a 12.4% share of all UK business – a higher percentage than any other sector in the UK. 

Construction is laying strong foundations

Love Energy Savings also found that in November 2018, construction output reached an all-time high since records began, exceeding £14 billion. Correlating with the government’s pledge to build 300,000 new homes each year to alleviate the housing crisis, this increased output was aided by growth in private new housing, private commercial new work, and public housing repair. 

Phil Foster, CEO of Love Energy Savings, said:

“The data we’ve analysed paints an interesting portrait of the UK business world. The North West has recently become a key destination for businesses, being the only destination that weathered the uncertainty that followed the 2016 referendum. 

“It’s also fantastic to see how investment has played a role in growth, specifically in Wales and Northern Ireland: when government funding is put into the hands of the UK’s entrepreneurs, regions thrive. 

“Love Energy Savings will continue to support business throughout the UK and hopefully, we’ll see the North West grow even more, with the rest of the UK following suit.” 

Interactive map: How is UK business performing in 2019?

Love Energy Savings analysed UK government data on business activity, size and location. Through the data, they created a map that highlights the number of business births, deaths, average company turnover, average household income and average energy costs in the UK. 

They also analysed industry data, including FinTech, transport and energy. 

The data used for the content was taken from a range of different reports. Some of these reports include data for 2018, whereas others do not. Therefore, some of the date ranges used may differ. We have, however, used the latest available figures in every instance.

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