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News UK construction sector increases research and development spending by 8% year-on-year to Euro432m in 2020

UK construction sector increases research and development spending by 8% year-on-year to Euro432m in 2020

Written by Global Cement staff 01 April 2021
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UK: Business consultant Catax has reported an 8% year-on-year rise in the UK construction sector’s research and development spending in 2020 to Euro432m from Euro401m in 2019. Total UK spending in the area across all sectors grew by 5% year-on-year to Euro45.1m. Gross domestic product fell by 9%.

Chief executive officer Mark Tighe said, “The pandemic stopped businesses in their tracks but those reliant on innovation clearly didn’t take their foot off the gas.” He added, “The construction sector shut completely in the first lockdown but, even so, the industry still grew its research and development spending on an annual basis last year. This will put the sector on a strong footing as we recover from the impact of the pandemic.”

Last modified on 07 April 2021
Published in Global Cement News
Tagged under
  • UK
  • construction
  • Research
  • coronavirus
  • GCW500

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