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Figures reveal Brexit vote’s impact on construction

A picture of a construction site

New figures have revealed the true impact of the Brexit vote on the construction industry

NEW figures from the Office for National Statistics (ONS) have revealed the true impact of June’s referendum on the construction industry.

In an article published by Construction News this week, it is revealed that the results appear to be better than feared.

Construction News reports: “The results are in for 2016, and after a year of twists and turns, it turns out construction didn’t fare altogether badly.

“The Office for National Statistics’s full-year data for 2016 shows that industry output grew last year, reaching £136.38bn.

Construction has expanded

“In a year of economic turmoil, high levels of uncertainty, political upheaval and warnings of a recession, construction has still managed to expand – albeit at a slower rate than the two previous years.”

However, Construction News reports that figures elsewhere suggest that the number of projects being put on hold has rocketed in the last quarter of 2016.

Read the full story on the Construction News website at https://www.constructionnews.co.uk/data/industry-barometer/defying-brexit-output-grows-in-2016-despite-eu-referendum/10017419.article

The referendum on whether Britain should remain in the EU was held on Thursday, June 23, 2016.

When voters went to the polls, they had to answer the question: “Should the United Kingdom remain a member of the European Union or leave the European Union.” Voters were able to choose “Remain a member of the European Union” or “Leave the European Union”.

The results saw 48.1% vote to remain a member of the European Union, while 51.9% voted to leave the European Union. More than 30 million people voted in the referendum, a turnout of 71.8%.