The number of construction companies to enter liquidation rose 17% in the third quarter of 2018, despite a decline in corporate insolvencies for the economy as a whole, according to new figures.
Dun & Bradstreet found that there were 677 companies that filed for insolvencies in July to September this year.
Overall, 4,056 companies entered insolvency over the period, down 20% year on year.
Markus Kuger, lead economist at Dun & Bradstreet, said: “Worryingly for the construction sector, confidence indicators are trending downwards, pointing towards rising pessimism.
“Although still marginally above the neutral 50-points line that divides expansion in sectoral activity from contraction, the September reading is the lowest in six months. While employment levels were rising, and new order inflow was the strongest since December 2016, respondents cited growing political uncertainty around Brexit and the ‘wait and see approach’ as a leading drag on business activity in the sector,” Kuger added.
