UK construction companies ended the current quarter with a strong expansion of overall output levels and a further improvement in their new order books, finds new survey.
The Markit/ CIPS UK Construction Purchasing Managers Index (PMI) will come as great news for umbrella company contractors working in the construction industry, especially as this improvement has boosted employment numbers within the sector for the fourth consecutive month, with the rate of job creation reaching its quickest for nearly six years.
Tim Moore, Senior Economist at Markit and author of the Markit/CIPS Construction PMI, said of the findings, “Construction is no longer the weakest link in the UK economy. The third quarter of 2013 ended with output growth riding high amid greater spending on infrastructure projects and resurgent house building activity.
“The reversal in fortunes has spanned commercial, residential and public sector construction projects. Moreover, builders are confident that a tide of new tender opportunities will continue to lift the construction sector in the months ahead, supported by improved development funding conditions and better underlying economic conditions.
“September’s survey suggested that constructors are beginning to react with confidence to the more positive landscape for the sector, as job creation and input buying both rose at robust rates over the month.”
This recent news is very much supported by the UK Construction Purchasing Managers’ Index (PMI), carried out in August of this year by Markit and the Chartered Institute of Purchasing & Supply.
This survey revealed that both optimism and growth has reached its highest level since June 2010, with one of the main reasons behind this accelerated growth thought to be due to the upturn in house building.
Simon Dolan is the Sales & Marketing Manager for Contractor Umbrella Ltd, one of the UK’s Most Respected Umbrella Companies and founder member of AllUmbrellaCompaniesAreEqual.
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