FMB NATIONAL CONFERENCE
‘VERY CAUTIOUS OPTIMISM’
FMB National President Chris Carr
There are many reasons to be optimistic about the future of the UK’s construction industry, but builders should not expect too much too soon, an economist told delegates at the FMB’s flagship National Conference C onsumers in the UK have suffered a fall in earnings for two years, but times are changing and their confidence is growing – which is positive for builders. This was the heartening message economy and, in particular, construction. His synopsis: “Things are looking up – at least for the foreseeable future.”
relations with the European Union ● Still expect delays on certain high- demand materials ● Materials prices have been stable in the past few months but they’re still 50% higher than they were a few years ago ● The labour market remains very tight in many sectors, including construction due to an ageing workforce and fewer foreign workers ● Construction pay increases remain low while vacancies remain high
It’s time to be cautiously optimistic or in Hall’s words: “very cautiously optimistic”. Here are key takeaways from his address: ● GDP has flatlined since Covid, but 2024 has seen incremental improvement ● Boosted consumers’ confidence will aid the economic recovery ● Brexit will continue in the background and the UK will enjoy improved trade
from Tom Hall, Chief Economist at Aqua Consultants, during his keynote address at the FMB’s National Conference, hosted at DoubleTree by Hilton Lincoln. Hall’s speech focused on the macroeconomic factors affecting the UK’s
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