Commercial - Stakeholder - The Vinden Partnership


Spring sees construction warm up

Construction activity is growing again as spring weather boosts activity.

The latest seasonally adjusted IHS Markit/CIPS UK Construction Purchasing Managers’ Index® (PMI®) has been released, showing that construction activity remains unchanged at 52.5.

The industry is experiencing a slow start to the year, hampered by winter weather continuing into March, but as the weather warms up firms are reporting better activity they catch up on site.

While we rapidly approach the half-year mark, figures are reflecting only a modest growth during a period of political and economic uncertainty for the sector. Residential work remains the best performing sector as the industry attempts to tackle the housing crisis, with commercial work accelerating to a three-month high, and civil engineering bolstering the figures by remaining in growth for the second month running.

Looking across the board, new business has slipped into decline, prompting uncertainty to return to the industry including material cost concerns. This fragile confidence is reflected into the jobs market, with job creation dropping to a four-month low in the latest survey. Companies continue to report on the struggle to find skilled workers.

Peter Vinden, Managing Director of the Vinden Partnership comments: “After a slow start to the year, we are starting to see promising signs of growth and recovery for the construction industry.

“Although the figures are reasonably underwhelming, the signs are there for the industry to push on through the rest of the year. The beautiful weather in May has allowed many sites to catch up on work, which is pushing the figures towards growth.

“Purchasing costs remain a major worry for construction firms, with both political and economic uncertainty still unresolved.

“It must also be a worry that infrastructure, which has been leading the growth following major government investment programmes, has dipped. Until the Brexit question has been resolved, I envisage a turbulent year.”

 

Contact Us

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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