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Reaction to Markit/CIPS UK construction PMI for December

Vinden Reaction to Markit:CIPS UK construction PMI for December

The Vinden Partnership says construction industry’s ability to weather Brexit uncertainty is remarkable.

December’s Markit/CIPS UK Construction PMI figures has revealed that construction industry output growth reached an 11-month high.

The construction PMI reading for December was 54.2, up from November’s figure of 52.8 – well above the threshold for growth of 50.0.

Housebuilding was a key driver in the better-than-expected figures and was the best performing sub-category as it enjoyed its sharpest growth rate since January.

The civil engineering sector, which had been a poor performer in recent months, also saw projects pick up at a robust pace throughout December.

Employment levels reached their highest levels since May but were still well down on the highs seen in mid-2013.

The was a positive outlook from respondents to the survey with 48% reporting that they expected to see a rise in business activity during the next 12 months, with only 13% forecasting a decrease.

Peter Vinden, Managing Director of The Vinden Partnership – a leading multi-disciplinary consultant company to the built environment said: “The construction industry’s ability to weather the Brexit storm has been truly remarkable.

“The short term fortunes of the sector appear positive as housing and civil engineering projects have a strong pipeline of work. It is also encouraging to see employment levels heading in the right direction.

“Looking further ahead, the rising cost inflation remains a worry and of course the spectre of how the economy will react when Brexit becomes reality will be the acid test for the construction industry.”

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The Vinden Partnership

Regent House

Folds Point

Folds Road

Bolton

Lancashire

BL1 2RZ

Bolton – Telephone: 01204 362888

Nottingham - Telephone: 0115 947 5334

London – Telephone: 0845 504 9733

www.vinden.co.uk

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Thank you to TVP for all your help on this incredibly successful project. We are very grateful for the leading role you have played as Quantity Surveyors and Employer’s Agent in making it come together without any major issues or disputes, which is quite a feat in the building industry.”



Oliver Jackson, Director of Strategy, Roberts Jackson Solicitors
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