Carillion collapse 'led to industry-wide sales slump'

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Credit firm’s report says sector’s first quarter revenues down by 6% to £294bn

Carillion’s collapse earlier this year contributed to a 6% sales slump across the wider construction industry during the first three months of 2018 and a 73.3% increase in the number of company failures over the same period, according to new research.

The latest quarterly Watchdog report by Norway-headquartered credit security firm Creditsafe said it was seeing similar challenges across other industries “and it’s a waiting game to see what the mid to longer term future will deliver”.

The report said UK construction revenues fell from £313bn to £294bn in the first quarter of 2018, while 934 firms went into receivership.

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