Strong results continue for UK construction industry | 4 November 2013
Construction output has reached its highest level in six years, constructionenquirer.com reports.
According to the latest Markit/CIPS UK ‘Construction Purchasing Managers’ Index’ report, construction output stood at 59.4 in October – making it well above the 50 mark that signals growth. Not only that, the mark is a decent rise on the 58.9 score recorded in September and represents the highest level seen since September 2007.
In further good news for the industry, this growth was deemed to be on a solid foundation, with all sectors seeing improvements. Whilst residential developments were dubbed the main driver of expansion, commercial work and civil engineering each recorded their own rises. In fact, the commercial property increase was the fastest monthly rise posted since April 2012.
As expected, these positive figures also came with improvements in the job sector, as the creation of new roles reached its highest level since 2007 as well.
Commenting, CIPS’ chief executive, David Noble, told link2portal.com: “The future is looking bright for the UK construction industry as it soars into the final quarter with its strongest performance in over six years, boosted by a strengthening surge in activity broadening out across all sectors.
“The ongoing growth of new business levels, climbing confidence and positive market conditions has resulted in the steepest rise in staffing levels for six years. Caution on employment experienced in the first half of 2013 has now been replaced by rising expectations and a strong belief that growth can be sustained in the year to come.”
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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