UK construction picks up in November
The UK construction industry received a welcome boost last month, with increasing rates of house building and construction work contributing to an unexpected rise in performance in the sector.
According to the latest Purchasing Managers’ Index (PMI) figures, November saw the fastest construction growth in four months – by way of comparison, the equivalent figures for September were the lowest since March.
New order growth was also on the rise and saw a significant increase, and the rate of job creation rose to a level not seen since December 2015. Other areas enjoying growth include commercial work and civil engineering.
There is, however, still a feeling of trepidation in the industry despite a relative upturn in performance over the last few months. Business confidence was slightly higher than in October, when it hit a near six-year low, but uncertainty surrounding Brexit means that concerns remain about the long-term success and security of the construction sector.
Respondents to the survey of industry executives, conducted by IHS Markit and CIPS, also reported increases transportation costs and staff wages, whilst longer delivery times from suppliers were again cited as an issue – as has been the case in every month since September 2010.
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