Survey confirms construction’s ‘sudden turnaround’

Survey confirms construction’s ‘sudden turnaround’

Commercial building output increased in December at the fastest rate since 2007, strengthening hopes that the recent improvements in industry fortunes are broadening significantly and job prospects are brightening. 

 

Most respondents to the Markit/CIPS UK Construction Purchasing Managers Index survey – 57% - say they are positive about the outlook for 2014 as strong output rises were recorded in the three broad areas of activity surveyed – commercial, housebuilding and civil engineering. Sharp rises were in output, new orders and employment.

 

The Purchasing Managers Index was down slightly from the previous month’s peak but showed an eighth successive month of output growth. Growth in housebuilding was more subdued than previously but remains the fastest growing of the three areas of activity and civil engineering maintained its growth rate. Commercial building however showed the sharpest improvement.

 

Markit senior economist Tim Moore said: “The latest survey highlights that construction companies enter 2014 with the wind in their sails. Most encouragingly, the improving UK economic outlook is helping boost private sector spending patterns, meaning that the construction recovery has started to broaden out from housing demand and infrastructure projects to include strong growth in commercial building work.”

 

Some 57% of survey respondents expect output to increase in 2014, compared to only about a third of firms at the same time last year. Mr Moore added: “Stronger growth expectations and fuller order books are continuing to fuel job creation in the construction sector. Higher employment numbers have now been reported for seven successive months, and these efforts to meet a sudden turnaround in UK construction demand should help keep staffing levels moving strongly upwards into 2014.”

 

Graph: Markit/CIPS

Please rate

Comments 

Name
Email
  Ctrl + Enter

Most Read

Suttons Tankers wins Yorkshire Water £60m AMP7/8 contract

Suttons Tankers wins Yorkshire Water £60m AMP7/8 contract

The bioresources sludge removal and transport services deal will cover the transportation for all internal liquid sludge and raw sludge cake from sewage works to sludge treatment centres. Over the course of the contract a 15% carbon savings has been forecast, which forms part of Yorkshire

Thames Water invests £55.7m to upgrade Guildford network

Thames Water invests £55.7m to upgrade Guildford network

The announcement comes during the ongoing £1.8m upgrade of Netley Mill water treatment works, which supplies 8,500 properties in Cranleigh and the surrounding villages via Hurtwood, Alderbrook and Lambswood reservoirs. The work will increase the resilience of the site and reduced the risk of

Govt & Ofwat call on water companies to accelerate AMP7/8 plans

Govt & Ofwat call on water companies to accelerate AMP7/8 plans

In an joint letter to UK water companies, the Government, the Environment Agency, the Drinking Water Inspectorate, Ofwat and CCW have called on them to accelerate their existing AMP7 plans – and consider bringing future investment from 2025 and beyond forward.The letter says they can play

This website uses cookies to enhance your user experience. By continuing to use this site, you consent to our use of these cookies. See our Cookie Policy.