Pro Installer February 2015 - Issue 23 | Page 20

20 FEBRUARY 2015 PRO INSTALLER PRO NEWS www.proinstaller.co.uk An Economic Overview 2015 With the general elections looming, a cooling housing market and problems with a weakening euro, the next 12 months could prove to be tricky for the UK. Economic growth through 2014 remained stagnation and as 2015 gets under way, it looks as though the UK is succumbing to the slowdown. On the up side, the UK is still likely to grow faster than most other parts of the world during 2015, however with problems within the eurozone; mainly accounted for by struggling economies, the UK will not go entirely untouched and the weaker euro will definitely impact on Britain’s biggest export market; forcing British exporters to hold prices down or risk losing business. Other factors include a general election in May and huge doubt about the outcome, making companies more cautious to consider new investment and it is apparent, that the housing market is cooling again, as valuations become stretched, also, pointing to a less buoyant year ahead. The UK CPI inflation rate fell to 0.5% in December 2014 according to the Office for National Statistics (ONS). The drop in inflation reflects falls in global oil prices that have fed through into lower fuel ‘fall in inflation will boost the UK economy’ prices for UK consumers, especially motorists, and falling food prices that have resulted from a supermarket price war. Resulting from these external factors rather than weakness UK economic activity, this fall in inflation will boost the UK economy as consumers have more money available for discretionary spending on goods and leisure. The profitability of UK non-financial corporation’s has improved markedly according to the latest ONS estimates. The net rate of return for UK companies was 12% in the third quarter of 2014, the highest recorded since 2006. This improvement was in spite of a sharp decline in returns for the UK offshore oil and gas sector, which h as seen by far the worst levels of profitability since the survey began in 1997. By contrast profitability in the service sector reached a survey high level of 16.8%, while a 10.9% net rate of return in the manufacturing sector was the highest since the beginning of 2002. Source: ARCADIS International Construction Costs Report ENERGY EFFICIENT WINDOWS MAKE HOMES MORE AFFORDABLE Two blocks of new affordable homes in Salford will have even more affordable heating bills, thanks to high specification energy efficient windows from Bolton-based Grosvenor Windows Limited. Grosvenor gained AECB Silver Standard accreditation for its U-Value 1.2 windows using 6.8mm laminate glass, Styrofoam LBH-X inserts in the reinforcement steels, plus additional gaskets, in grey VEKA Matrix 70 frames designed and fabricated by Glazerite Windows Ltd. The blocks were part of a development of 19 affordable and private residential new properties by Seddon Homes in the city’s Bowker Street. The contract was especially challenging at the tender stage because of the requirement for AECB (Association for Environment Conscious Building) Silver Standard for the affordable homes, especially achieving U-Value 1.2 while using laminated glass, according to Grosvenor Commercial Estimator Lauren Wilcox. She said: “The actual installation went extremely well and was completed well within the required timescale. Given such a demanding specification, the technical support we received from Glazerite and VEKA plc proved invaluable.” Glazerite Director Jason Thompson added: “There are lots of jobs out there that can be made achievable for any competent installer with the right kind of technical support, as many of our installer partners have already discovered. More and more commercial clients and main contractors are taking matters such as energy efficiency far more seriously but this work need not be out of reach of any professional installer.” For more information visit www.glazerite.co.uk ‘this work need not be out of reach of any professional installer’