Chai! My people, e no good at all! UK construction sector dey feel am like say dem don hold jamboree for bad news.
Only last month, the sector bin shrink again for 12th month straight. Wetin dis wan mean? E mean say dem no dey build house like before, no commercial work, and civil engineering dey follow suit, dey shrink like wetin dem dey use heat the food!
According to S&P Global report wey land, both activity and new orders don fall sharply. Housebuilding and commercial work drop reach the fastest rate wey we don see since May 2020, when COVID-19 lockdown come scatter everything. You fit remember how wahala bin dey for building sector back den, e no different from now.
Na only civil engineering fit carry small sharp-cut, but even dat one no too dey shine spoil like busted bulb. Dem report say the whole tin don make construction PMI index climb small from 39.4 to 40.1; but my guy, below 50 na still contraction o! We dey talk sey dem don experience longest downturn since 2007 global financial crisis, e fit make person shed tear.
Tim Moore, wey be economics director for S&P, talk say: “Construction companies dey face serious wahala for December, but the way wey the downturn dey dey moderate small small win no mean say di bad news don finish.” E come add say many firms dey complain sey client confidence dey fragile like butterfly wing, and delayed investment decisions dey yank dem back.
But wait small, no be all doom and gloom o! Dem say business activity expectations for di year wey dey come don bounce back to five-month high, meaning sey some people dey see light for di tunnel. But how we go take see di light if dem no dey build any house abi commercial venture?
A big issue wey dey ground be sey the government no fit meet dem housebuilding targets. Na so much pressure dey on dem waist, as dem dey struggle to pull am together. So, as holiday season don pass, e go beta make dem get better plan before e turn to complete saga as Christmas tree wey don dry!
As e be so, UK construction sector dey show say e no dey easy, and if dem no wake up well-well, the matter fit carry dem go one corner wey no be pleasant. Na dem gatz to jump this serious construction wahala before e go turn vexing saga!
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