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Statistics show hard times linger for UK construction industry

Confirming that the hard times are still lingering, insolvency statistics released yesterday have shown that construction has been one of the hardest hit sectors in the UK since 2009.

Confirming that the hard times are still lingering, insolvency statistics released yesterday have shown that construction has been one of the hardest hit sectors in the UK since 2009.

New data from PricewaterhouseCoopers showed that there were 5,126 collapsed construction companies between the third quarter of 2009 and the second quarter of 2011.

PwC’s construction leader, Jonathan Hook said this highlighted that the UK construction industry is still a long way from recovery.

“Whilst the number of insolvencies fell on the previous quarter of 2011, they are still 5% up on the equivalent quarter last year,” he said.

“Companies working on major infrastructure projects or on large frameworks are still busy, but the picture outside London and the South East is going to continue to be challenging. Work is being bid at very tight margins and I think things could well get worse before they improve.”

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