27/04/2024
😎 The value of construction new work in current prices in Great Britain in 2022 increased 15.8% to a record high of £132,989 million; this was driven by growth in both private sector work of £14,093 million and in the public sector of £4,068 million
💰 Construction new orders rose 11.4% in 2022 to £80,837 million, driven by private infrastructure, private commercial and other public non-housing; the only sector that decreased was private industrial.
🎹 In the Quarter 3 (July to Sept) 2022, 374,332 Value Added Tax (VAT) and Pay As You Earn (PAYE) registered construction firms were operating in the construction industry across Great Britain, which is a 5.9% growth compared with 2021.
👷♀️The number of construction-related employees (excluding self-employment) in Great Britain increased 3.3% in 2022 compared with 2021, totalling at 1.4 million workers; the biggest contributor to the growth in 2022 was England with a growth of 3.5%, Wales and Scotland both increased by 2.0%.
The construction industry saw a 59.4% annual increase in the number of recorded company insolvencies in 2022.
The all-work construction Output Price Index saw strong annual price growth of 8.8% in December 2022.