The Week That Was - 5 May 2023
Welcome to The Week That Was, a round-up of key events in the construction sector over the last seven days.
Europe narrowly avoids recession with help from "warm winter"
A warm winter has saved the EU from recession according to Guardian economics editor, Larry Elliot. Higher than normal temperatures have blunted the impact of higher energy prices, allowing Europe to ride out the energy crisis and, so far, avoid a recession that was considered inevitable a year ago on the invasion of Ukraine.
Data is showing a real gross domestic product expansion of 0.1% in the first quarter. Holger Schmieding, chief economist at Berenberg, also credits fading gas shortage fears, easing of supply chain pressures and more outdoor construction activity for a small overall rise in activity.
However, this does not take away from recent European inflation data continuing to show consumer prices rising much faster than the 2% a year that is generally considered as monetary stability, keeping pressure on individuals, businesses, and the central bank.
To read more on this, please click here, or for the Guardian's report, here.
Glencar wins £125m Heathrow data centre project
One of the UK's largest contractors, Glencar, has won its bid to build a new major data centre near Heathrow Airport. Vantage Data Centers' new LHR21 facility will be built at its 1.2 acre London campus. The building will be six storeys high and will be 18,000-square-metres in total. Construction is due to start imminently and is expected to be completed in early 2025. Building services contractor Essex Group Services has partnered with Glencar to help deliver this project with Glencar's chief executive calling the project a 'real milestone'.
To read more, click here.
Cruden Building appointed to £500m housing framework
A member of the Cruden Group, Cruden Building, has secured a position on a £500m construction framework. This framework will continue for the next four years. Alongside seven other contractors that have been appointed by The Wheatley Group, Cruden Building will provide housing construction work within Dumfries and Galloway. The aim is to build a range of new homes with affordable lease terms for the housing provider with up to 1,000 new homes being built each year.
To read more, click here.
Industry body welcomes Construction Materials report
In response to the Grenfell Tower Public Inquiry, the Independent Day Review has been published. The review considers the behaviour of manufacturers and those responsible for advising on fire performance products such as cladding. The report references the Code for Construction Product Information and sets out recommendations to the Government and industry on its uptake. CPI Ltd, the independent organisation responsible for administering the Code for Construction Product Information, has welcomed the report.
To read more, click here.
Thank you to Nikita Austin and Emma Higgins for contributing to this week's edition.
Disclaimer: The information in this publication is for guidance purposes only and does not constitute legal advice. We attempt to ensure that the content is current as at the date of publication, but we do not guarantee that it remains up to date. You should seek legal or other professional advice before acting or relying on any of the content.