Sector - Housing
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.”
If you would like to read more articles like this then please click here
More Housing News
- House building could be hit by lack of workers following Brexit
30 May 17
Tighter immigration controls would see fewer skilled construction workers in the UK.
- CML report housing market is “moving sideways”
30 May 17
There was an 11% drop on the figure for March, with mortgages worth £18.4Bn advanced
- Bunkabin rises to military portable accommodation challenge
30 May 17
Bunkabin currently has 2000 sleeper units for hire, as well as various welfare units, shower