According to new figures from Pricewaterhouse Coopers (PwC), to date, there have been more than 9,000 insolvencies in construction and manufacturing since the first quarter of 2011.
Construction saw 5,580 insolvencies, while there were 3,573 in the manufacturing sector. However both sectors saw a fall in insolvencies during the final quarter of 2012 and there were 12% fewer in construction than during the previous three months.

October to December 2012 was the lowest quarter for insolvencies in the construction sector across the two-year period. London remained the region with the highest number at 125, although even this was 5.3% fewer than the previous quarter. The 5,580 overall construction insolvencies for the entire period included 1,559 for general construction/civil engineering firms, while 373 were plumbing firms.

For manufacturing, quarter four was slightly better at 425, but this was still a 5.7% increase on the same period last year.

Despite a better final quarter in 2012, construction and manufacturing remain two of the worst affected sectors across the board to suffer from insolvencies.

Jonathan Hook, PwC's engineering & construction leader, said: 'Whilst there has been a decline in the number of insolvencies over the last quarter the industry remains under severe pricing and cash flow pressure. I anticipate further failures in the supply chain over the coming period with the first half of this year being the peak point for failures in the sector.'