Finally, there is some good news for construction as the latest Glenigan Construction Review reports that the overall decline in project-starts appears to have bottomed out during the three months to October. The improvement in starts was mainly due to the performance of projects over £100m, which were 28% up on the previous three-month period and 19% up on a year ago.

Project-starts on schemes under £100m, however, declined 17% against the previous three months and 13% against 2021 levels.

More positively, the development pipeline is looking healthier; with overall planning approvals up 29% against the preceding three months and 22% higher than 2021 levels. For a full breakdown of overall industry performance and detailed analysis of the sectors and regions you work in download the Glenigan Construction Review