Reaction to Markit/CIPS UK Construction PMI for August
Vinden Partnership encouraged by rise in residential building.
The Markit/CPS UK Construction Purchasing Manager’s Index (PMI) has been published showing that construction output increased slightly in August.
UK construction’s PMI rose to 57.3, up from 57.1 in July, well above the neutral threshold figure of 50 indicating expansion.
August’s PMI revealed that the commercial sector saw it fastest rise for five months, while residential construction showed the fastest rate of expansion, helping to fuel the construction industry’s growth for August.
Peter Vinden, the Managing Director of the Vinden Partnership – a leading multi-disciplinary consultant company to the built environment – said in response to last month’s figures that the loss of momentum was little more than an expected ‘fluctuation’ and this has proven to be the case.
Speaking on the newly released data, Mr Vinden said: “Last month’s downturn in the residential building figures were disappointing but these results show July’s figures were only a fluctuation.
“As I said last month, we remain confident that with the government’s commitment to building new homes, the long-term future for house building sector of the construction industry a positive one.
“The sustained recovery of the commercial and residential building sectors has ensured that the construction industry continues to grow. The industry has every reason to remain bullish in its outlook.”
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