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NI construction industry slumped by 30% last year, new report shows


Northern Ireland s construction industry collapsed by 30% at the height of the coronavirus pandemic, according to a new report.
However, it found that the sector was actually one of the better performing in 2020 and is expected to remain stable this year despite the duel challenges of Covid-19 and Brexit.
The report, to be published tomorrow by American multinational engineering firm AECOM, found that hospitality, retail and commercial construction were the areas of the sector most affected during the pandemic.
It also suggests the cost of construction here increased by 1.5% in 2020 and is anticipated to increase another 1-1.5% this year.
AECOM predicts that following the end of lockdown there will be a pent up demand for construction, but that it will eventually slow and there will be a reduction in the costs of labour. ....

United Kingdom , Northern Ireland , Jody Wilkinson , Ireland Director Jody Wilkinson , ஒன்றுபட்டது கிஂக்டம் , வடக்கு ஐயர்ல்யாஂட் , ஜோடி வில்கின்சன் , ஐயர்ல்யாஂட் இயக்குனர் ஜோடி வில்கின்சன் ,

Pandemic causes 30% slump to Northern Ireland construction


An annual construction industry review, to be published on 21 January 2021 by AECOM, highlights that construction output fell by 30% in Northern Ireland during the height of the pandemic in 2020, with hospitality, retail, and commercial construction most affected. The report also predicts that the construction sector in the North will remain stable in 2021 and that despite the twin challenges presented by Covid-19 and Brexit, the sector is still one of the better performing industries at the moment in Northern Ireland.
The report also suggests that the cost of construction increased by 1.5% in 2020 and is anticipated to increase further between 1% and 1.5% in 2021. However, AECOM predicts that once the current pent up demand from the period of lockdown slows, there will be a subsequent reduction in the cost of labour and, despite global competition for supplies as a result of the pandemic, the new trade agreement between the UK and EU should help mitigate against any significa ....

United Kingdom , Northern Ireland , Jody Wilkinson , ஒன்றுபட்டது கிஂக்டம் , வடக்கு ஐயர்ல்யாஂட் , ஜோடி வில்கின்சன் ,