Construction insolvencies fell 19% in the second quarter of 2010 compared with the previous quarter.
The number of insolvencies in the second quarter was 555, down from 686 in the first quarter, according to figures from Pricewaterhouse Coopers.
Insolvencies were 24% down on the second quarter of last year.
Jonathan Hook, construction and housebuilding leader at PwC, said: 鈥淭his is the first significant quarterly fall in construction insolvencies and is a good sign for the sector.鈥�
Figures from the Chartered Institute of Purchasing & Supply (CIPS) have revealed that UK construction activity continued to increase in June, but at a slightly slower pace than in May. However, the CIPS warned that the rise has failed to have any positive impact on employment.
No comments yet