Reaction to Markit/CIPS UK Construction PMI for September
The Vinden Partnership welcomes news of strong housebuilding growth.
The Markit/CIPS UK Construction Purchasing Manager’s Index (PMI) has been published showing that the construction industry enjoyed its fastest growth for seven months, buoyed by an increase in housebuilding.
UK construction’s PMI rose to 59.9 in September, up from 57.3 in August, higher than the expected figure of 57.5 and well above the growth threshold of 50.
Housebuilding increased at its fastest rate for 12 months, with companies citing delayed projects finally getting the go ahead as a contributing factor.
Construction companies also responded positively to their prospects over the coming 12 months with 52% predicting an increase in business, while only 6% thought they would see a reduction.
Peter Vinden, the Managing Director of The Vinden Partnership – a leading multi-disciplinary consultant company to the built environment – said the figures are a continuation of August’s positive figures and are good news for the government’s housebuilding plans.
Mr Vinden said: “August’s figures saw housebuilding enjoy rapid expansion and this trend has continued robustly into September.
“In terms of the housing shortage, this is positive news for the government’s target of building a million homes by 2020.
“The issue of the skills shortage, however, is something that we cannot ignore. There is clearly a reliance at the moment on sub-contractors and the government must continue to invest in the industry’s future by encouraging young people to pursue a career in the construction industry.”
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