The Brexit saga continues, and we are approaching crunch-time. The UK economy grew at only 1.4% in 2018 against a backdrop of the Eurozone growing 1.8% and global GDP growth at 3.8%. In 2019 the UK is forecast for its lowest GDP growth in a decade.
UK construction is also struggling in this environment. New work output in 2019 is expected to decline, following a challenging 2018. Costs are rising and tendering is more competitive putting pressure on margins. But, there is hope that as we get some certainty on the UK’s exit from the EU there may be a bounce as confidence returns and investment is released. But it depends on the EU Withdrawal Agreement and the ambition of the future relationship between the UK and the EU.